Bill Ackman’s Pershing Square takes big stake in Chipotle

September 6, 2016 9:36 PM

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Bill Ackman’s Pershing Square takes big stake in Chipotle

Bill Ackman’s Pershing Square Capital Management LP on Tuesday disclosed a 9.9% stake in Chipotle Mexican Grill Inc. and indicated that the hedge fund will take an active role in the management of the fast-food chain.

Pershing Square believes that Chipotle’s stock is undervalued and a good investment given the company’s “strong brand” and growth opportunity. The hedge fund said it plans to hold discussions with the management and the board on governance, board composition, cost structure, management, and strategi...

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