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Nelson Peltz of Trian Group, Heinz's second-largest investor, addresses shareholders during the annual meeting in Pittsburgh on Wednesday, Aug. 16, 2006. (AP Photo/Keith Srakocic)
Nelson Peltz of Trian Group, Heinz's second-largest investor, addresses shareholders during the annual meeting in Pittsburgh on Wednesday, Aug. 16, 2006. (AP Photo/Keith Srakocic)

Activist investor Peltz’s fund to sell stake in Legg Mason

Activist investor Trian Fund Management agreed to sell its 9.9 percent stake in Legg Mason Inc. to Shanda Group, ending a six-year push to lift the share price of the Baltimore-based money manager. Trian is selling “substantially all” of the shares it owns to Shanda, a Singapore-based investing holding company, according to a statement Tuesday from ...

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