Ackman buys into Chipotle, expects to talk with management

September 7, 2016 12:02 AM

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Ackman buys into Chipotle, expects to talk with management

BOSTON Activist investor William Ackman's hedge fund took a 9.9 percent stake in fast-casual Mexican food chain Chipotle Mexican Grill Inc (CMG.N), buying in after the once high-flying company was battered by food-safety issues.

The billionaire manager said in a regulatory filing late on Tuesday that the company's shares, which closed at $414.07 on Tuesday, were undervalued and that he would be speaking with management. The share price jumped more than 5 percent in after-market trade on news that Ackman owned 2.9 million sh...

Also read: Tiger Management-backed hedge fund firm Tyrian Investments to close -source

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