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Nelson Peltz Puts More Mondelez In His Shopping Cart

Nelson Peltz has been keeping Mondelez busy, but DuPont wants him to keep his distance from their business

Scene Last Night: Jeffrey Immelt,   Nelson Peltz,   Courtney Love

 

Nelson Peltz is buying in the Mondelez section of his portfolio supermarket aisle, and has been stocking up on shares, according to Dakota Financial News.

Peltz purchased 270, 871 shares in the open market on Wednesday 25th at an average price of $36.94 per share following a February 19th purchase of 915, 000 at $36.98. The stock has been trading at a range of $31.83 to $39.54 for the last year.

Mondelez has had a busy month, buying and selling assets and making management changes. Roberto Macques took the helm as the President of the North American business, and formerly worked at Johnson & Johnson, as reported by Seeking Alpha. The food company bought  social media and digital marketing agency Betabox; the financial terms were not disclosed. Mondelez  sold 50% of Ajinomoto, a Japanese coffee company.

Nelson Peltz has been having plenty of drama of his own, as DuPont has struck back at his plans to try to force the company to do an additional spin off. In a letter to shareholders, DuPont CEO Ellen Kullman said Peltz’s Trian management has been spreading “myths” about the company, which he says should be split up or he will fight a proxy war. Kullman said the 18% jump in the stock price last year was not because of Peltz’s activist involvement and its selling of its performance chemical business was an internal decision and not due to activist pressure.

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