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Carl Icahn, Bill Ackman Can Hug It Out In Person At the Former’s Hall of Fame Induction

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A Management Hall of Fame exists, at least on the internet and in Mario Gabelli’s imagination. And Carl Icahn will be enshrined therein.

Of course, Uncle Carl isn’t the only member of the Gamco Hall’s Class of 2014: Matthew Shattock, CEO of Beam Inc., will also be immortalized in pixels. And who else would induct him but Bill Ackman, with whom he worked on his signature achievement: spinning the bourbon-maker off from Fortune Brands and then selling it for $13.6 billion?

If ever there was a moment that called for the old rivals to split a few cripplingly expensive bottles of wine at Marea, sealing their rapprochement, this is, of course, it.

Mario Gabelli’s Gamco Management Hall of Fame (yes, such a hall exists) named to its 2014 class Mr. Icahn and Matthew Shattock, the CEO of bourbon maker Beam Inc. and a man who made a small fortune for Mr. Ackman.

The “rigorous criteria” for the Hall include “creating shareholder wealth” and “earning a superior rate of return over the long term,” according to a release….

Mr. Shattock makes the cut because of immense returns from Beam’s $13.6 billion sale, excluding debt, to Japan’s Suntory.

In an intriguing coincidence, that return owes some credit to Mr. Ackman, whose Pershing Square Capital Management LP pushed to separate the maker of Jim Beam out of Fortune Brands, the company that also made Titleist golf balls and sold home security systems.

Carl Icahn and Ackman’s Bourbon Man Named to Hall of Fame Together [WSJ MoneyBeat blog]



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