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  "documentTitle": "Pershing Square portfolio (multi-holding LP update: MDLZ, VRX, APD, ZTS, CP, QSR, HHC, PAH, FNMA/FMCC, HLF short)",
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  "authorName": "William Ackman",
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  "notes": "Slide 79 of an activist investor deck.",
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      "text": "A consolidator in the global packaged food sector. Large, fragmented packaged foods industry. Nomad’s territorial tax domicile will be valuable if it acquires international assets",
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      "text": "In August, Nomad agreed to purchase the highly complimentary non-UK assets of Findus for ~£500mm or 6x EBITDA post-synergies",
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      "text": "On June 1, 2015, Pershing Square invested $350mm in a private placement of Nomad shares at $10.50 in conjunction with Nomad’s acquisition of Iglo Group. Pershing Square’s Brian Welch joined the Board of Nomad.",
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