|Third Point Management, the $8.7 billion hedge fund firm managed by Daniel Loeb has join investment titans, Bill Ackman and Warren Buffet, in making Kraft Foods a portfolio heavy-weight. According to Reuters, Third Point acquired a significant stake sometime between its January 13F filing, which did not list the stock position, and July when the firm announced the holding to its investors. |
Kraft recently traded at $39 a share in anticipation of the spinoff of the company’s snack foods line from its general foods business. Activist hedge fund investor, Bill Ackman of Pershing Square Capital Management which owns 15.5 million shares, has been encouraging Kraft Foods to split its food lines for a couple of years.