Hedge fund billionaire Bill Ackman builds $5.5bn stake in Mondelez

US activist investor Bill Ackman has built a stake worth about $5.5bn (£3.5bn) in Mondelez, the maker of Cadbury chocolate and Oreo biscuits, in what is seen as an attempt to push the company to grow faster or seek a buyer. Mondelez shares were pushed up 7% at $49.49 premarket trading in New York on Thursday, placing a value on the company of about $80bn.

Related: Cadbury cuts 250 jobs in Birmingham

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Source: The Guardian Circular Economy RSS