Spinoff report boosts McDonald's
A report that one of its shareholders is pushing for a spinoff of its company-owned restaurants boosted shares of McDonald's by more than 2% early Wednesday, making the hamburger behemoth the biggest percentage gainer in the Dow Jones Industrial Average.
The Wall Street Journal reported that the Pershing Square hedge fund, which acquired a stake in McDonald's (MCD) earlier this month, would like to see the company retain its franchising operation but sell off a majority stake in the company-owned restaurants into a separate publicly traded entity and borrow money to give shareholders on the value of its real estate holdings.
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Source - MarketWatch
External Source - For the complete article click here
Source - MarketWatch
