Ackman buys into Chipotle, to talk to management; shares jump

[WorldNews]

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Activist investor William Ackman's hedge fund took a 9.9 percent stake in fast-casual Mexican food chain Chipotle Mexican Grill Inc , buying in after the once high-flying company was battered by food-safety issues. Chipotle's shares rose as much as 8.7 percent to $450 in extended trading after Ackman's Pershing Square disclosed its ownership of 2.9 million shares in the company. Chipotle said it learned of Pershing Square’s acquisition only on Tuesday, welcomed their investment, and appreciated the confidence they had expressed in the company.

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