Investors take a bite out of Burger King
The King is back on Wall Street.
Burger King returned to the New York Stock Exchange on Wednesday, less than two years after 3G Capital purchased the company and took it private in order to focus on turning around the brand.
While that tranformation is far from complete, this year’s early signs of progress were enough to spark the interest of Justice Holdings. The investment company co-founded by hedge fund veteran William Ackman paid $1.41 billion in a deal that closed Wednesday for a 29 percent share in the Miami fast-food chain. The complex transaction took Burger King Holdings public in a reverse merger through the Justice Holdings shell company.