Hedge fund titan Bill Ackman, the founder and CEO of Pershing Square Capital Management, was asked about his massive stake he recently snapped up in Procter & Gamble at the CNBC/Institutional Investor Delivering Alpha Conference today.
He revealed that he bought $1.8 billion worth of P&G stock.
He was also asked if he supports the company’s current CEO, Bob McDonald.
The hedge fund manager responded that he looks forward to meeting him. He also said he’s going to take a “hard look” at the company.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.