Fortune Brand credit-default swaps tumble on Ackman breakup

THE COST TO protect Fortune Brands Inc.'s debt from default dropped after the company said it will spin off its home and security division and sell - or otherwise divest - its golf unit, the Fairhaven-based Acushnet Co., maker of Titleist golf balls. /
THE COST TO protect Fortune Brands Inc.'s debt from default dropped after the company said it will spin off its home and security division and sell - or otherwise divest - its golf unit, the Fairhaven-based Acushnet Co., maker of Titleist golf balls. /
NEW YORK - The cost to protect Fortune Brands Inc.’s debt from default dropped after the maker of Jim Beam bourbon said it will spin off its home and security division as a publicly traded company and sell or otherwise divest its golf unit, the Fairhaven-based Acushnet Co. The swaps declined 8.2 basis points to…

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