Monterey County Herald – The activist hedge fund manager who tried to get McDonald’s Corp. to spin off company-owned restaurants last year is eyeing the fast-food company again. The news sentMcDonald’s shares to a new six-year high.
McDonald’s said in a regulatory filing Friday that three investment funds managed by Pershing Square Capital Management LP notified it of plans to acquire $793.8 million of McDonald’s shares beginning in mid-August.
It was not immediately clear whether the purchase had been completed. William Ackman, managing partner of Pershing Square, did not return a phone call seeking comment.
A purchase of nearly $800 million would amount to less than a 2 percent stake but would still make Ackman one of McDonald’s top institutional shareholders.
