News & Resources

Freedman Quoted by The Deal on Pershing Capital’s Options at Mondelez International

August 7, 2015

Olshan Activist Partner Andrew Freedman was quoted by The Deal in an article featuring Bill Ackman’s firm Pershing Square Capital disclosing a 7.5% stake in Mondelez International Inc. In highlighting Ackman’s potential campaign, the story notes that there is already an activist on Mondelez's board - Trian Fund Management LP's Nelson Peltz. Freedman argues that Ackman's 13D gives Peltz additional firepower from his position on the board, stating, "If Peltz is looking for certain alternatives to be reviewed and the company is opposed to them then now they are going to think long and hard about those alternatives.” Although Freedman feels that a proxy contest by Ackman doesn’t appear likely at this time, he further notes Mondelez has "hefty" mechanisms in place for calling a special shareholder meeting.

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