Tuesday, June 05, 2007

Anheuser-Busch (BUD) Higher On Speculation Activist Investor Ackman Could Be Targeting the Company

Shares of Anheuser-Busch (NYSE: BUD) are higher today on speculation the company could be an activist target of William Ackman, though his Pershing Square hedge fund, which just raised $2 billion that it will be used to focus on one large "iconic American" company.

According to reports in the New York Post, Ackman told investors the money will be used to buy a controlling interest in a $30-$40 billion company and prospective investors said the company has three divisions. Ackman declined to comment.

Other names mentioned as possible targets for Ackman were Starwood (NYSE: HOT), Marriott (NYSE: MAR) and Kraft (NYSE: KFT). Link to NY Post Article

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