Jan 13 2006 | 8:43pm ET
Would You Like Some Fries With That Proposal?
William Ackman is again stirring up grease fires at McDonald's Corp., saying that next week he will reveal his revised proposal to split up the fast food franchise.
Ackman's hedge fund, Pershing Square, holds 4.9% of the fast food giant's shares of common stock. He threw the first bun in his battle with the burger giant in November when he called for the firm to spin off a 65% stake in its company-operated stores and to borrow $15 billion to repurchase shares in an effort to boost the company's stock price.
McDonald's board rejected Ackman's plans, saying they would negatively impact the firm's franchises. Ackman said he would revisit his ideas, taking management's concerns into consideration. His revised plans are reportedly more "franchise friendly" than the first ones, but they are still expected to get some store owners hot under the collar.
Mar 10 2014 | 11:33am ET
A huge thank you to all of the people who helped make last Thursday’s HFC NY Open Your Heart to the Children Benefit such a success. The charity gala raised nearly $2 million to prevent and treat child abuse in New York, New Jersey and Connecticut. Read more…