NEW YORK Activist hedge-fund manager William Ackman, through his Pershing Square Capital Management fund, has acquired a large stake in Landry’s Restaurants Inc. and is set to oppose the restaurant company’s $1.2 billion buyout deal. Ackman’s Pershing Square of New York filed documents Friday with the Securities and Exchange Commission that said the fund and its affiliates had acquired about 1.6 million shares, or nearly 10 percent, of Landry’s outstanding stock for $21.7 million. Pershing ...

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