Fortune Brands, the weird amalgam of sporting, liquor and faucet companies, is breaking into three pieces. Somewhere, billionaire investor Bill Ackman is probably doing a fist pump of joy.
By The Wall Street Journal‘s tally, Mr. Ackman has already gained about $300 million by trading in Fortune shares:
In pre-market trading, Fortune Brands are Read More
Bill Ackman, investor in the prison-industrial complex and famous decrier of bond insurers, is now looking to up his influence in the world of bookselling. The head of Pershing Square Capital Management has said he’s willing to fund a $960 million buyout of Barnes & Noble by Borders. The Times reports:
Mr. Read More
Bill Ackman — the eminently successful hedge fund manager, activist investor and real estate dealer — has written a letter detailing his Pershing Square funds’ third-quarter dealings, and the silver-haired money manager is extremely pleased with his holdings in Corrections Corporation of America, America’s largest private jailer. Ackman writes:
Corrections Corp was a Read More
Our story begins years ago in a Newark housing project, the now-demolished former residence of Newark mayor Cory Booker, and an unlikely place to spot hot shot hedge fund money manager Bill Ackman. Nevertheless, a meeting between the two took place, Bloomberg reports, amid “drug dealers and rats.” And now big-time money is flowing Read More
The board of directors at J.C. Penney hasn’t taken kindly to the share-buying overtures of one Bill Ackman, whose Pershing Square Capital disclosed a huge stake in the company earlier this month. The women’s clothing vendor is reaching for the poison pills in an effort to ward off Ackman’s advances.
According to a Read More