Hedge fund with 4.9% of McDonalds may ask for some real estate to be sold off
Hedge fund Pershing Square Capital Management LP confirmed yesterday it has accumulated a 4.9% stake in
in recent months. Pershing used a similar investment strategy in building up a 9.9% stake in
earlier this year. While Wendy’s said it never met with Pershing’s managing partner, William Ackman, the company eventually announced intentions to spin off at least part of the Tim Hortons chain, along with other shareholder-value enhancing moves. A Pershing spokesman wouldn’t comment, but analysts’ speculation has centered on a possible monetization of some of McDonald’s vast real estate holdings.