Hedge fund manager Bill Ackman’s Pershing Square Capital Management LP filed a prospectus with the Securities and Exchange Commssion on Friday to sell 2.88 million shares of Chipotle Mexican Grill Inc. , equivalent to a 10% stake. Pershing stated in the regulatory filing that it does not have immediate plans to divest of the shares but that it “reserve[s] the right to do so.” Pershing had disclosed its stake in the fast-food chain in September and indicated an interest in boosting shareholders’ value and streamlinging the company’s cost structure. Chipotle shares fell 0.7% in after hours.
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