Blog: Fortune favours the brave
Chris Brook-Carter | 13 October 2010
Pershing Square Capital Management LP has acquired an 11% stake in Fortune Brands, US reports have said.
The hedge-fund firm is led by activist investor William Ackman, who has a reputation for buying stock in companies he deems undervalued and lobbying for changes he thinks will boost shareholder value.
It is certainly a move to keep an eye on, and may spell trouble for the US-owner of the Beam Global Spirits & Wine business.
Ackman led an unsuccessful effort last year to place as many as five board members, including himself, on the US retailer Target's board and also has a history of stirring things up at the restaurant chain Wendy's.
Beam's investor relations team will have their work cut out.
Here's a round-up of the big stories on just-drinks last week, featuring AG Barr, Bombay Sapphire, Wines of South Africa and Pabst Brewing Co....
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Here's a round-up of the big stories on just-drinks last week, featuring SABMiller, Orangina Schweppes, PepsiCo and Scottish devolution....
- No Home Comfort for TWE as Bids Collapse
- Bacardi Seeks Own History at Bombay Sapphire Home
- NPD: The Craft Cocktail Revolution
- Private-equity bids "over" - TWE head
- Treasury Wine Estates: Here I Go Again On My Own
- Carlsberg suspends production at Russian brewery
- Suntory Holdings to split beer, spirits division
- Anheuser-Busch InBev appoints new AmBev CEO
- Treasury Wine Estates pulls plug on takeover talks
- Diageo's Smirnoff Sours