Hungry for McDonald's

A hedge fund activist agitating for change at McDonald's (MCD Quote) is seeking to ratchet up pressure on the fast-food giant by buying $2 billion worth of its shares, according to a report from Bloomberg on Wednesday.

Bill Ackman of Pershing Square Capital has sent a letter to others in the investment community looking to raise money for the acquisition and rally support for a potential proxy fight, according to the report, which cited "a person familiar with the matter."

At Tuesday's closing price of $39.06, a $2 billion purchase of McDonald's shares would give Pershing about 51 million shares, or a 4.2% stake, making it McDonald's third-biggest shareholder. ...