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PHILADELPHIA/NEW YORK (Reuters) - Fortune Brands Inc. could well be the target of a new action plan from activist investor William Ackman, but its bigger concern may be the Tax Man. Mr. Ackman's fund, Pershing Square Capital, known for big investments in retailer Target Corp. and shopping mall operator General Growth Properties Inc., in early October revealed a 10.9 percent stake in Fortune.
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WASHINGTON, Oct. 5 /PRNewswire-USNewswire/ -- The Lenkin Company and The Tower Companies announced today that http://www.aiam.org/ The Association of International Automobile Manufacturers, Inc. (AIAM), Statoil and Fortune Brands, Inc., have signed leases at 1050 K Street, a 136,000 square feet, U.S. Green Building Council LEED(R) Gold certified commercial and retail office building, winner of the 2010 NAIOP Award of Excellence and home to other top companies such as Knoll Furniture, AOL, Glaxo Smith Kline, Philips Electronics, Shell Oil and others. The 11-story jewel-box design by Hickok Cole is located in the heart of downtown Washington and incorporates the natural elements of air, water, earth and light with state of the art features. (Photo: http://www.newscom.com/cgi-bin/prnh/2010...
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HONG KONG (Reuters) - Fortune Brands Inc. agreed to sell its golf equipment business for $1.23 billion, to a group led by South Korean sports apparel and footwear maker Fila Korea Ltd., as part of its goal to become a pure-play alcoholic drinks company. Late last year, the maker of Jim Beam bourbon announced plans to sell or spin off its Acushnet golf unit, which makes Titleist golf equipment, and spin off its home products business, which makes Simonton windows and Moen faucets, amid pressure from activist investor.
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PHILADELPHIA (Reuters) - Fortune Brands Inc., which owns brands ranging from Jim Beam whiskey, Titleist golf balls and faucet manufacturer Moen, plans to split into three companies, a source familiar with the situation said on Tuesday [Dec. 7]. An announcement is expected on Wednesday [Dec. 8], the source said.
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NEW YORK (Reuters) - Fortune Brands Inc. said it is open to constructive talks with activist hedge fund manager William Ackman and defended its current business portfolio, even after reporting weaker-than-expected quarterly results. The maker of Jim Beam bourbon, Moen faucets and Titleist golf equipment said the driving force behind its diverse portfolio is the combined cash flow that lets it invest in what it deems "attractive markets with headroom.
