(Reuters) -Billionaire investor Bill Ackman’s Pershing Square Capital Management has taken a stake in Domino’s Pizza Inc, the pizza chain said on Wednesday.
Ackman, whose bets on companies are closely watched, told the Wall Street Journal in an interview https://www.wsj.com/articles/bill-ackman-ceos-and-artists-headline-wsjs-future-of-everything-festival-11620811806?mod=breakingnews earlier that he had swapped his shares in Starbucks Corp for a little under 6% stake in Domino’s.
“It’s (Domino’s) a very compelling story and big international growth opportunity … and there’s plenty of room to run both here and abroad,” Ackman said during the Journal’s Future of Everything Festival event.
Domino’s, whose shares rose 5.9% to a record high of $447.1, said in an emailed statement that it welcomed Ackman’s investment in the company.
Starbucks said it would not comment on shareholder decisions. Its shares were down 2.4%.
Pershing Square declined to comment.
(Reporting by Praveen Paramasivam in Bengaluru and Uday Sampath; Editing by Maju Samuel and Aditya Soni)
