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Nelson Peltz's Stake in Procter & Gamble Signals a Looming Activist Campaign

Get ready, investors. An activist campaign may be coming to Procter & Gamble.

Billionaire Nelson Peltz's hedge fund disclosed a $3.5 billion stake in Procter & Gamble (PG) - Get Procter & Gamble Company Report . "This suggests that a big activist campaign could be brewing at Procter & Gamble," said TheStreet's Ron Orol. "He's launched 23 campaigns at 20 companies."

At General Electric (GE) - Get General Electric Company (GE) Report , Peltz issued an 80-page white paper offering both praise and criticism and Orol thinks Peltz may write one on P&G. "Peltz has a big operational background," Orol said, adding that Peltz could suggest a breakup of Procter & Gamble.

TheStreet's Scott Gamm reports from Wall Street.

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