In the Margins
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.
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