Hedge fund manager claims victory
Bill Ackman, of activist hedge fund Pershing Square Capital Management, has won a victory in his efforts to get McDonald's to boost shareholder value. McDonald's announced last week it will sell 1,500 restaurants, release more financial information and repurchase $1 billion in stock. Ackman had been pressing for all those items. One thing he didn't seem to win: A spin-off of the restaurant unit through an initial public offering. Still, the fund seems satisfied.
> Here's a New York Post article.
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