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Fortune's Absolut hangover; Investors toasted CEO for not overpaying; now they want to see Plan B.

Publication: Crain's Chicago Business
Publication Date: 19-MAY-08
Format: Online
Delivery: Immediate Online Access
Full Article Title: Fortune's Absolut hangover; Investors toasted CEO for not overpaying; now they want to see Plan B.(News)(Fortune Brands Inc.)

Article Excerpt
Byline: DAVID STERRETT

Fortune Brands CEO Bruce Carbonari's decision to bow out of the escalating bidding for Absolut vodka made him look like a hero to many on Wall Street.

Now he has to show that he can grow the company's critical spirits business despite the loss of the biggest brand it distributed in the United States.

Fortune's stock surged 16% to the $74 range last month when Mr. Carbonari opted not to best Pernod Ricard S.A.'s surprising $8.3-billion bid for...

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