Bill Ackman Makes a Few Chess Moves

via CNBC.com

Pershing Square Capital Management founder Bill Ackman told the audience at Delivering Alpha that his fund would take an activist role in Proctor & Gamble.

“We’re going to take a hard look to see if we can add any value” to Proctor & Gamble [PG 64.82    0.04  (+0.06%)   ], Ackman said.

Perhsing Square, a hedge fund with roughly $10 billion under management, has been a large and active investor in Canadian Pacific Railway [CP  74.88    0.01 (+0.01%)   ] and retailer J.C. Penney [JCP  19.71    0.46  (+2.39%)   ].

Earlier in the day, Ackman had told investors in a letter that it sold itsCitigroup[C  27.10    -0.28  (-1.02%)   ] shares to help build a stake in Procter & Gamble. Ackman told CNBC his fund owns about $1.8 billion dollars worth of stock in P&G.

Ackman revealed that his fund owns $1.8 billion worth of stock in the company.

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