Fortune Brands may cooperate with activist shareholder William Ackman's plea to split up the company's three business units, people familiar with the matter told the Wall Street Journal.
That would include a possible sale or spin off of Acushnet Company, comprised of the FootJoy, Vokey, Scotty Cameron, Pinnacle and Titleist brands.golf brands. The company's advisers are likely to look to explore selling the golf equipment business to Callaway, Nike and other rivals, sources told the Journal.
The three business units are Acushnet, spirits, which includes Jim Beam bourbon; and home-products such as Moen faucets and Aristokraft cabinets. Ackman's Pershing Square Capital Management owns about 11% of the company. Sources talking to the Journal described the interaction between the two sides as “constructive” rather than confrontational.
