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.
Heavy metal legend Bruce Dickinson - lead singer of the band Iron Maiden, for the unitiated - is clearly a man not afraid to get his hands dirty. ...
The homebrewing revival continues in the UK - and evidence has come that even the supermarket chains are taking it semi-seriously. ...
Does Pernod Ricard have something to hide? In a press conference after the release of full-year results today, only a quarter of the 100 minutes were given over to questions from journalists....
Here's a round-up of the top stories on just-drinks last week, featuring Carlsberg, Heineken, Coca-Cola Amatil, California's winelands and Cognac....
- Allegro: The shape of things to come at Pernod?
- The End of the Road for International Beer Brands?
- Pernod Ricard's FY Performance by Region, Brand
- Pernod Ricard's Allegro cost-saving programme
- US craft vodka puts squeeze on Pernod's Absolut
- Pernod bemoans tough FY as sales, profits drop
- ASA bans Jägermeister TV ad
- Pernod Ricard set for CMO switch
- Scotch whisky leaders sign pro-UK letter
- Molson Coors appoints Europe CEO