Hedge fund manager William Ackman sold 7.3 million shares in Beam Inc this week, according to a regulatory filing on Friday, trimming his holdings three weeks after the share price spiked on news of a planned takeover by Japanese whiskey maker Suntory Beverage & Food Ltd Ackman's $12 billion Pershing Square Capital Management sold 6 million shares of common stock at $83.28 on Thursday and sold 1.3 million shares of common stock at $83.36 on Friday, according to a filing made with the Securities and Exchange Commission late on Friday.Pershing Square had been the single largest holder in Beam, the liquor unit spun out of Fortune Brands in 2011, owning 20.8 million shares at the end of the third quarter.The share price spiked 25 percent on January 13 when Suntory offered to pay $13.6 billion in cash for the maker of Jim Beam and Maker's Mark.After this week's sales, Pershing Square owns 8.3 percent of Beam's outstanding shares, down from 12.7 percent previously.
Beam Inc. (Beam) is a premium spirits company that makes and sells branded distilled spirits products in markets worldwide. Shares of BEAM fell by 0.12% or $-0.1/share to $83.30. In the past year, the shares have traded as low as $59.66 and as high as $84.00. On average, 2105890 shares of BEAM exchange hands on a given day and today's volume is recorded at 4261882.
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