Activist Shareholder Seeks McDonald’s Stake
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An 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.
McDonald’s said in a regulatory filing that three investment funds managed by William Ackman’s Pershing Square Capital Management notified it of plans to acquire $793.8 million of McDonald’s shares beginning in mid-August.
It was not clear whether the purchase had been completed. The purchase would amount to less than a 2% stake but would still make Ackman one of McDonald’s top institutional shareholders.
McDonald’s shares rose 86 cents to $36.76.
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