Bill Ackman Reveals A Whopper Of A Stake In Burger King

bill ackman

Bill Ackman, the founder of Pershing Square Capital Management, disclosed a 12% passive stake in Burger King in a 13G regulatory filing with the SEC. [via @CNBCnow]

According to the filing, Ackman now has 41,922,908 shares in Burger King.

The maker of the “Whopper” returned as a publicly traded company on the NYSE Wednesday following a merger in April with Ackman’s “cash shell” company Justice Holdings.  

Justice, which was founded along with Nicolas Bergguen (aka ‘the homeless billionaire’) and Martin Franklin last year before taking it public in February 2011 on the London Stock Exchange, purchased a 29% stake Burger King Worldwide Holdings Inc. for $1.4 billion in cash from 3G Capital

Private equity firm 3G took Burger King private in 2010.

Shares of Burger King were last up more than 3.8%. 

DON’T MISS: Burger King Launches Bacon Sundae >

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.