(Source: Editorial in the Roanoke Times, December 9, 2015)
ROANOKE, Va. — In 2005, Bill Ackman’s Pershing Square group bought into the Wendy’s hamburger chain, and forced the board to sell off its Tim Hortons doughnut business, bringing in $670 million for Wendy’s shareholders. Pershing Square then cashed out, Wendy’s stock price dropped — some blamed Ackman for forcing Wendy’s to sell off what had been a fast-growing company; Ackman contended the company was simply poorly run after he left.
Full story: Roanoke Times