P&G Shares Jump after Bill Ackman Reveals Massive Stake

The Procter & Gamble Company (NYSE:PG) shares jumped after the Federal Trade Commission approved of an investment by William Ackman’s Pershing Capital Management LP.  By midday (Eastern Time) on Thursday, P&G’s stock rose 4.5 percent to $64.18 per share. It was the highest gain for the company since October 2009. The shares closed slightly lower at $63.70 a share, up 3.75%.

The FTC did not reveal any details of the transaction. Based on U.S. laws, any transaction exceeding $68.2 million requires evaluation and approval from regulators.

In an interview with Bloomberg, Paul Fox, spokesperson...