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Oreo-maker latest 'Big Food' company targeted for shakeup


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FILE - In this Feb. 9, 2011, file photo, a shopper selects Oreo cookies at a Ralphs Fresh Fare supermarket in Los Angeles. Activist investor Bill Ackman is paying approximately $5.5 billion for a 7.5 percent stake in Mondelez International Inc., the maker of products, including Oreo cookies and Cadbury chocolate, according to reports, Thursday, Aug. 6, 2015. (AP Photo/File)

NEW YORK (AP) -- The maker of Oreo cookies may again be the target for a shakeup as "Big Food" companies scramble to transform amid changing tastes.

Activist investor Bill Ackman's Pershing Square said it was paying about $5.5 billion and taking a 7.5 percent stake in snack maker Mondelez International Inc. The disclosure comes as Mondelez, which also makes Ritz crackers, Cadbury chocolates and Trident gum, had already been slashing costs to offset weak growth.

Such cost-cutting has become common for major packaged food companies, which are up against shifting tastes that favor foods...