Investing
Bill Ackman Says He’s Built a Stake in Domino’s Pizza, Owns Roughly 6%
- Investor sees upside in company, cites delivery strength
- His blank-check company is near separate deal for iconic brand
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Bill Ackman has taken a stake worth almost $1 billion in Domino’s Pizza Inc., adding another big-name consumer company to his portfolio, and said his blank-check firm is nearing a separate deal to take an “iconic” brand public in the coming weeks.
Ackman’s Pershing Square Capital Management owns a little under 6% of the pizza chain’s shares, he said Wednesday at a conference. He said he bought into Domino’s when the shares dipped to roughly $330, and after selling out of Starbucks Corp. following a run-up in the coffee company’s stock.