Suntory Holdings will acquire Beam Inc (BEAM) for ~$13.6b in cash or $83.50 per share, representing a 25% premium to Friday’s close. Beam, owner of Jim Beam, Makers Mark, Canadian Club and more, is the largest US based spirits maker and the combination with Suntory will create the third largest spirits player in the world. The deal has… Read More »
Appearing on Fast Money this evening, Doug Kass predicted that another hedge fund manager would join Bill Ackman of Pershing Square Capital by taking a big stake in Procter & Gamble(PG), and that together they would force the company to split into two or three pieces. Kass said the stock price would increase $7-$10on such an announcement. With… Read More »
Beam, Inc.(BEAM), the former Fortune Brands after its spinoff of Fortune Brands Home & Security(FBHS) in October, has announced that it will raise its dividend 8%, from an annual rate of $0.76 to $0.82. The company also declared the next quarterly dividend of 20.5 cents per share, which will be payable on March 1, 2012 to shareholders of… Read More »
Image via Wikipedia In October, when Bill Ackman and Pershing Square Capital disclosed an 11% stake in Fortune Brands(FO), there was speculation that he would push the conglomerate to break up. Today, Fortune announced plans to break into three companies. Fortune itself would retain its Premium Spirits business, led by venerable brands such as Jim Beam, Maker’s Mark,… Read More »