He's back. The activist hedge ...

He's back.

The activist hedge permanent fund manager who tried to win McDonald's Corp. to spin against company-owned restaurants last year is eyeing the fast- regimen company again. The news sent McDonald's shares to a six-year high.

McDonald's Corp. said Bill Ackman plans to corrupt more than $793.8 million of McDonald's shares, couple weeks after he reported he sold all his stock.

Oak Brook-based McDonald's said in a regulatory filing Friday it had been notified of the stock-purchase plans of three stores managed by Ackman's Pershing Square Capital Management LP The purchase would give Ackman 18 percent of the outstanding shares in the world's largest restaurant company.

Ackman sold his remaining 105125 McDonald's shares in the other quarter after the chain bought back $1 billion of stock and agreed to license 1500 restaurants -- put in motions Ackman had advocated. Last year, Ackman propos that McDonald's exchange 65 percent of its company- acknowledgeed restaurants in an initial public offering and borrow $147 billion to finance a stock repurchase.

"It's an awfully big company to make a stream at," said Janna Sampson, who helps manage $972 million including 740000 McDonald's shares at Oakbrook Investments in Lisle. "He may have any grand plan he has besides to reveal to us. I can't imagine he thinks he can revisit the same issues he raised last year."

Ackman declined to remark on the filing. McDonald's spokeswoman Anna Rozenich said the company disclosed Pershing Square's instigate to be "open and transparent" ahead of nearest month's plan for a tax-free swap of Chipotle Mexican Grill Inc. shares for McDonald's stock. Rozenich declined further remark

Chipotle went public in January after being be in possession ofed by McDonald's since 1998.

McDonald's shares rose as high as $3680 during trading Friday. The shares finished at $3676 up 86 cent or 24 percent upon the New York Stock Exchange. That surpassed the six-year record of $3675 reached in February. They are up more than 9 percent this year, and they've gained 25 percent since Jan. 24 the day before Ackman dropp his demand for the IPO of company restaurants. Chipotle's stock gained $135 or 27 percent to $5069 Friday.

Pershing Square, based in just discovered York, said on Aug. 16 it acknowledgeed stock options and swaps that, if exercised, would give the hedge supply a 4 percent stake in McDonald's.

Ackman has also used his activist approach to force changes at Wendy's International Inc., including the spinoff of Tim Hortons doughnut store chain.

Copyright CHICAGO SUN-TIMES 2006

Provided by dint of ProQuest Information and Learning Company. All rights Reserved