Ackman's Pershing Square takes stake in Procter & Gamble: source NEW YORK (Reuters) - Hedge fund manager William Ackman's Pershing Square Capital Management has taken a new position in consumer products company Procter & Gamble Co (PG.N), a source familiar with the move said on Thursday. Shares in the world's largest household products company jumped more than 3 percent to $63.40 amid speculation that the activist investor was building a stake. Pershing Square received approval from the Federal Trade Commission to acquire the stake, according to the source. Reporting By Svea Herbst-Bayliss; editing by Jeffrey Benkoe