Ackman Cashes In On Beam For $608 Million

An SEC filing reveals Bill Ackman’s Pershing Square Capital Management sold a part of its highly profitable investment in BEAM Inc (NYSE:BEAM) in two transactions last week aggregating 7.3 million shares. Pershing Square offloaded 6 million shares on Thursday at an average price of $83.28 per share, and another 1.3 million shares on Friday at an average of $83.36 per share, as Ackman decided to book some of the gains accrued after the announcement of BEAM Inc (NYSE:BEAM)’s acquisition by Japanese drinks maker Suntory last month. Shareholder activism pays off Whiskey-maker BEAM Inc (NYSE:BEAM) was spun off from the erstwhile…