Bill Ackman’s hedge fund has taken a 9.9% stake in Chipotle Mexican Grill (NYSE:CMG), sending shares up 6.5% AH and buying into the once high-flying company battered by food-safety issues. Pershing Square intends to engage in discussions with the restaurant’s board and management, stating the stock was undervalued and attractive. Ackman also left the board of Canadian Pacific (NYSE:CP) on Tuesday, marking the end of a four-year tenure that helped overhaul the ailing railroad company.
