Fortune Brands FO is expected to cooperate with Bill Ackman, as the activist investor seeks to potentially sale portions of the company, according to the Wall Street Journal.
Given the diverse nature of the company, Ackman believes value could be unlocked by potentially selling divisions. The company is noted for its Jim Beam, Titleist, and Moen brands, among many others.
Shares skyrocketed today, gaining more than $4 per share to close at $58.60, a gain of nearly 8%.
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