Beam Inc. was sued over its proposed $16 billion takeover by Suntory Holdings Ltd. by an investor who said the transaction is being driven by the company’s largest shareholder, hedge-fund manager Bill Ackman.
Pershing Square Capital Management LP, the activist hedge-fund firm run by Bill Ackman, made $342.5 million today on Beam Inc. if its stake is unchanged from Sept. 30, after Suntory Holdings Ltd. agreed to buy the company.
Hartford Financial Services Group Inc., the insurer focusing on property-casualty coverage, rose as Reuters reported that Apollo Global Management LLC and J.C. Flowers & Co. may bid for unit that sold annuities in Japan.
Pershing Square Capital Management LP, the $11 billion activist hedge-fund firm run by Bill Ackman, posted a 7.9 percent net gain in its main strategy in October, according to a performance update obtained by Bloomberg News.
Chase Coleman’s Tiger Global Management LLC bought a stake in Yahoo! Inc. and boosted its holding in Priceline.com Inc., its largest U.S.-listed stock position, as it stepped up its bets on e-commerce.
In early 2009, hedge-fund manager Philip Falcone was living the life of a newly made billionaire. He had started extensive renovations on a $49 million Manhattan mansion once owned by Penthouse publisher Bob Guccione. He traveled on a private jet, employed body guards and funded his wife Lisa’s new career as a film producer.
Kinder Morgan Inc. is preparing to start talks on selling off parts of El Paso Corp.’s oil and gas exploration and production unit in case the pipeline operator can’t find a buyer for the whole division, said people with knowledge of the matter.