McDonald's Corporation (NYSE:MCD) may be putting its Boston Market restaurant chain up for sale in an effort to further consolidate its operations after its recent spin-off of Chipotle Mexican Grill, Inc. (NYSE:CMG). The rumors stem from a Chicago Tribute article that cites an annual state-of-the-company meeting in which management said that they plan to sell the business segment. McDonald's purchased the company seven years ago in bankruptcy court for $173.5 million as a diversification move.

Obviously, any sale or spin-off of Boston Market would result in extra cash for the company, but it is not clear how this cash would be used. It is worth noting, however, that Bill Ackman still holds a substantial stake in the company, and he is well known for his shareholder activism. His hedge fund, Perishing Square, also has a long history with McDonalds, after pressuring them in 2005 to spin-off 65% of their owned restaurants before settling for a $1 billion share buyback program along with other measures to increase shareholder value. Perhaps now their interests are aligned as McDonald's looks to streamline their operations by selling off non-core businesses and deliver value to shareholders. While nothing is certain yet, this is certainly a stock worth watching over the next few months.

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