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 SABMiller, Orangina Schweppes, PepsiCo and Scottish devolution....
Knowledge is power, or so they claim. So, with that in mind, here's an infographic, courtesy of Australian company Hangover Revivol, that breaks down exactly what is behind the common hangover....
Here's a round-up of the top stories on just-drinks last week, featuring William Grant & Sons, the Southern hemisphere's winemakers, SABMiller and Heineken, and Coke Light....
How many beer mugs can one man carry? ...
- Scottish Independence and Scotch Whisky
- Whisk(e)y leads vodka in US, but for how long?
- Wine in the UK: Tell Us Something We Don't Know
- SABMiller spurned by Heineken: The start of the en
- Comment - Heineken's 'No' Cuts SABMiller Options
- LIVE BLOG: Industry responds to Scotland 'No' vote
- Diageo ups Johnnie Walker Formula One presence
- A-B InBev shakes up Euro units, UK head steps down
- Bacardi lifts curtain on Bombay Sapphire distiller
- Diageo settles Explorers Club trademark dispute