Biggest Beam Shareholder Slashes Stake

Activist investor Bill Ackman has slashed his stake in Beam Inc. following news of Suntory’s planned $16 billion acquisition of Beam. Ackman’s Pershing Square Capital Management unloaded 6 million shares of Beam common stock at $83.28 on Thursday and another 1.3 million shares of common stock at $83.36 on Friday, reducing its stake from 12.7% to 8.3%. Pershing Square had been Beam’s single largest shareholder.

Tagged : Beam Inc, Pershing Square Capital Management, Suntory

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