DENVER BUSINESS JOURNAL - New York billionaire William A. Ackman is betting big on Chipotle Mexican Grill Inc.
Ackman's investment firm, Pershing Square Capital Management L.P. yesterday bought 2.9 million shares of Denver-based Chipotle (NYSE: CMG), worth about $1.2 billion, according to a Securities and Exchange Commission filing.
Ackman now owns nearly 10 percent of Chipotle's outstanding shares. In early Wednesday trading, shares in Chipotle were up more than 5 percent, up more than $22 to $436.42.
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