{"id":3835,"date":"2006-01-11T00:00:00","date_gmt":"2006-01-11T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-fund-to-unveil-revised-mcd-plan-next-week","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/01\/2006\/hedge-fund-to-unveil-revised-mcd-plan-next-week.html","title":{"rendered":"Hedge fund to unveil revised McD plan next week"},"content":{"rendered":"<p>Hedge fund manager William Ackman said he plans to unveil a revised proposal to split up McDonald\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s Corp. next week, setting off what\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s expected to be a battle to win support from the restaurantchain\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s franchisees.<\/p>\n<p>  Mr. Ackman, whose Pershing Square L.P. hedge fund holds shares and options equal to 4.9% of McDonald\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s common stock, rattled the Oakbrook\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u20ac\u009dbased company in November by proposing the company spin off  a 65% stake in its company-operated stores and borrow $15 billion to finance a massive share repurchase to help boost the company\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s stock price.<\/p>\n<p>  McDonald\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s rejected Mr. Ackman\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s proposal saying it would threaten the company\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s relationship with the people who operate 22,000 of its 31,000 restaurants, adding the plan amounted to \u00c3\u00a2\u00e2\u201a\u00ac\u00cb\u0153financial  engineering.\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2<\/p>\n<p>  But Mr. Ackman vowed to listen to McDonald\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s objections and revise his plan to unlock what he believes is the tremendous value in real estate underneath McDonald\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s restaurants. The revisions are  expected to be \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cfranchisee friendly.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d Support from this group would give Mr. Ackman strategic leverage in dealing with McDonald\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s since the chain would not want to be at odds with a majority of its  store owners.<\/p>\n<p>  <a href=\"http:\/\/www.chicagobusiness.com\/cgi-bin\/news.pl?id=19081\">Read Complete Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hedge fund manager William Ackman said he plans to unveil a revised proposal to split up McDonald\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s Corp. next week, setting off what\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s expected to be a battle to win support from the restaurantchain\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s franchisees. Mr. Ackman, whose Pershing Square [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3835","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/3835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=3835"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/3835\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=3835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=3835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=3835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}