On Air Now

Listen

Listen Live Now » 106.1 FM Lansing, Michigan

Weather

Current Conditions(Holt,MI 48842)

More Weather »
68° Feels Like: 68°
Wind: SW 0 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

AM Clouds/PM Sun 82°

Tonight

Mostly Clear 64°

Tomorrow

PM Thunderstorms 84°

Alerts

Exclusive: Highfields Capital raises stake in Tim Hortons - source

NEW YORK (Reuters) - Highfields Capital Management has increased its stake in Canadian coffee and doughnut chain Tim Hortons from 1.5 percent to around 4 percent this year, a source familiar with the situation told Reuters Wednesday.

A Highfields spokeswoman declined to comment. A Tim Hortons spokesman was not immediately available for comment.

Hedge fund Highfields Capital, which has a track record of bringing about change at other firms, wants Tim Hortons to boost returns through debt-funded share buybacks and a scaling back of U.S. expansion plans, according to documents seen by Reuters and two sources familiar with the matter.

Reuters first reported the news of Highfields' behind-the-scenes agitation Tuesday night.

(Reporting by Jessica Toonkel; Editing by Lisa Von Ahn)

Comments