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Tara Lachapelle

3G's Next Meal: General Mills or Mondelez?

We know which target Bill Ackman would root for.

As Brazilian billionaire Jorge Paulo Lemann scouts for 3G Capital's next big acquisition, one can envision Bill Ackman gesturing, "Pssst, over here."

It's no secret that Ackman's hedge fund Pershing Square Capital Management has had a rough year, between its long position in Valeant Pharmaceuticals (the stock lost almost 70 percent over the past 12 months) and bet against Herbalife (the stock rose almost 70 percent). However, Pershing Square also owns a sizable stake in Oreo cookie maker Mondelez -- one of two food companies considered to be in 3G Capital's sights -- and he'd probably love to see it get acquired at a nice premium.