Fortune Brands Surging on Breakout Rumors (FO)

Shares of Fortune Brands Inc. FO are surging higher in the after-hours after the company confirmed that it has been in talks with Pershing Square Capital about potentially breaking up the company. FO said that they have not made a final decision on the matter, but investors like what they hear; currently FO shares are higher by 8.3%, at $58.27. Fortune Brands, Inc. is a holding company with operating companies engaged in the manufacture, production and sale of distilled spirits, home and security products, and golf products. Fortune Brands operates in three segments: Spirits, Home & Security and Golf. In June 2009, the company acquired the EFFEN vodka brand and related assets from the Sazerac Company, Inc. In June 2009, the company sold the Old Taylor whiskey brand and assets to Sazerac Company, Inc.