Activist investor Bill Ackman is taking aim at Mondelez, paying about $5.6 billion for a 7.5 percent stake in the Deerfield-based food company, spurring speculation that the billionaire could force the snack food giant's sale.
Ackman's Pershing Square Capital Management said it is buying about 120.3 million shares of the snack maker, reportedly making Mondelez Ackman's largest investment to date.
Mondelez, the maker of Oreo cookies and Cadbury chocolate among other products, was split from Kraft in 2012. Kraft kept the North American grocery brands, Mondelez took the snacks.
Kraft combined with H.J. Heinz last month to form Kraft Heinz, creating one of the world's...