FTSE suffers worst month in three years on credit woes and US data May 31, 2012 BRITAIN’S top share index suffered its worst month in more than three years in May after data suggesting the US economy is struggling triggered a late sell-off yesterday, and may be vulnerable to further declines as Eurozone worries persist. The FTSE 100 index gave up most of the strong gains it had recorded earlier in [...]
Legg Mason hit by outflows January 21, 2010 LEGG Mason said outflows from its funds sharply accelerated in the latest quarter. One of the US’ largest money managers, Legg Mason said outflows totaled $33bn (£20.4bn) in its fiscal third quarter ended 31 December, compared with $8bn in the second quarter. Assets under management were $681.6bn at 31 December, down three per cent from [...]
PELTZ’S CADBURY STAKE MELTS November 25, 2009 US billionaire investor Nelson Peltz has cut his stake in takeover target Cadbury to 2.68 per cent from 3.03 per cent. Peltz also owns a stake in Kraft, which has launched a hostile £9.8bn bid for?Cadbury. Rival candy-maker Hershey is said to be near to trumping Kraft’s offer, after gaining local political approval.
Peltz on board, says Legg Mason November 11, 2009 Legg Mason chief executive Mark Fetting has denied suggestions that hedge fund manager Nelson Peltz, the money manager’s newest board member, might be pressing to carve up the firm. Peltz, an activist investor known for demanding change at jeweller Tiffany & Co and fast-food chain Wendy’s, joined the Baltimore-based asset manager’s board last month. Since [...]
Kraft activist shareholder is ungagged October 26, 2009 ACTIVIST investor Nelson Peltz has had a two-year gagging order lifted by Kraft, sparking talk that the US food giant will now come under pressure to secure a takeover deal with Cadbury. Peltz’s Trian Fund Management group had struck a two-year “standstill” agreement with the US group in November 2007, under which he promised not [...]