Boston-based hedge fund Highfields Capital Management has sent a letter to Canadian coffee-and-doughnut chain Tim Hortons urging the company to pull back from its U.S. expansion. Highfields, which owns a 4% stake in Tim Hortons, wants the company to stop investing profits from successful Canada stores to build a bigger presence in the highly competitive U.S. market, which hasn't proved nearly as profitable.

Related Summaries