Hedge Fund News Wrap: Week Ending 09/04/15

Ackerman’s Pershing Square Gets Whiplash

(Forbes) – After a 10 percent gain to close out July, it seems as though hedge fund mogul William Ackman and his fund have come to a screeching halt after falling 9 percent in August. The firm in the spotlight, Pershing Square Capital Management, is currently down by 0.1 percent for the year after the turmoil caused by the markets.

The damage is predominantly a consequence of both Valeant Pharmaceuticals and Canadian Pacific Railway falling by 10 percent, both of which Ackman has big positions in.

Read the entire article at Forbes
More coverage: Reuters and NY Post

$765 Million Worth of Vegetables 

(NY Times) – General Mills and the Jolly Green Giant are now sitting on $765 million in cash. After sealing the deal with General Mills, B&G Foods acquired both the Green Giant and Le Sueur brands for frozen and canned vegetables from General Mills.

B&G, the owners of Cream of Wheat, Mrs. Dash, Ortega and Pirate’s Booty brands, is now officially a player in the frozen food category, on account of the new deal.

“The acquisition marks our entry into the frozen food category, which we believe will open many future growth opportunities,” Chief Exectuive Robert Cantwell said in a statement.

Overall, 3.07 million shares of B&G Food exchanged hands throughout the day, compared to its daily average of 333,900.

Read the entire article at NY Times
More coverage: The Street and Fox News