In the Margins

Activist investor Peltz unloads Legg Mason stake

April 13, 2016

By Barron's

Nelson Peltz’s Trian Fund Management has sold nearly all of its stake in Baltimore-based Legg Mason to Shanda Group, a holding company based in Singapore. Legg Mason disclosed that Shanda agreed to purchase substantially all of Trian’s 9.9% stake, explaining that Trian is selling “for portfolio management reasons.” A filing submitted to regulators showed that Trian affiliates sold 10.5 million shares at $32 each. Read the original story from Barron's.

 

 

Most Read

Top of the Agenda - Compensation
IDC: Fund director pay climbs again in 2024

Mutual fund independent directors earned more in 2024 than in the year prior, and the pace at which their compensation grew was also higher year-on-year, according ...