The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Peltz Secures a Spot on Legg Mason's Board Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, October 26, 2009

Peltz Secures a Spot on Legg Mason's Board

by: InvestmentWires Staff, 

Activist investor Nelson Peltz is set to take a seat on Legg Mason's board after purchasing a 4.3 percent stake in the Baltimore-based fund firm, The Wall Street Journal reported. Peltz's hedge fund firm, Trian Fund Management, promised to acquire no more than 9.9 percent of Legg stock for the next two years and vote in favor of the firm's slate of directors.

In June, the Telegraph, citing unnamed sources, reported that Peltz was looking to raise his Legg Mason stake to 20 percent (Trian had disclosed a 0.51 percent stake in March). The pub reported that it was believed that Peltz could eventually call for a sale or break up of Legg Mason.

Peltz is known as a deep value investor. In 2007 he purchased a stake in Cadbury Schweppes and eventually forced the spin-off of a division of that firm.  

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use