From Fnno.com, this is the Financial News Network. I'm Kimberly Odom.
Investor response to William Ackman revealing his stake in Procter & Gamble Co. got off to a bad start.
Shares of P&G closed at 0.15% to $64.92 on Thursday, following news that Ackman's hedge fund PSCM took a $1.8 million stake in P&G.
As the company continues to lose shares, Wall Street analysts speculate that Ackman will push to replace P&G CEO Bob McDonald. P & G responded to talk about the possible change by declaring in a U.S. Securities and Exchange Commission filing that was standing by McDonald and his plan for the company.
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