Market Overview

Ackman Buys More Fortune Brands

Jonathan Chen , Benzinga Staff Writer

August 10, 2011 12:21pm Comments

According to Market Folly, which tracks hedge fund disclosures, Bill Ackman and Pershing Square have purchased more Fortune Brands (NYSE: FO) in recent days.

According a filing with the SEC, Pershing bought an additional 3,648,512 shares on August 5th, 8th, and 9th.

Ackman, and Pershing Square, were successful in their ability to break up Fortune Brands, having it sell off division in order to unlock shareholder value.

Shares of Fortune Brands are currently trading at $53.71, down 24 cents.

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Posted-In: Bill Ackman Pershing Square Long Ideas Hedge Funds Trading Ideas

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