Wednesday, September 7, 2016

Activist investor Bill Ackman takes 9.9% stake in Chipotle Mexican Grill

In a file photo, people walk past a Chipotle restaurant on Broadway in Lower Manhattan on February 8, 2016 in New York City.Pershing Square Holdings Ltd., the hedge fund run by activist investor Bill Ackman, acquired a 9.9 percent stake in Chipotle Mexican Grill Inc. and will seek talks with the beleaguered restaurant chain.

Pershing said it believes that Chipotle shares are undervalued and plans to discuss ways to improve the company’s operations, cost structure, management and strategy, according to a filing Tuesday. A stake of nearly 10 percent would make Pershing Square the second-largest investor in Chipotle, according to data compiled by Bloomberg.. . . more

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