Investor Pressures P&G
Cincinnati Enquirer, Friday, July 13, 2012 9:31 AM
Activist investor Bill Ackman was cleared to acquire a significant stake in Procter & Gamble on Thursday. Shares jumped 3.75% on the news. But the development intensifies pressure on P&G chief executive Bob McDonald to step up layoffs and possibly sell parts of the world’s largest consumer products company, local analysts said. “What this means is change is coming one way or another,” said Matt McCormick, a portfolio manager with Bahl & Gaynor, Downtown. “Ackman has a history of identifying companies with good, strong brands, but that need a jolt -- and he’s very effective.”
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