Nelson Peltz snaps up $16 bln Brexit fixer-upper CGAThompson
Nelson Peltz's Trian Fund Management on June 13 announced it had acquired a stake of 5.98% in Ferguson, the British plumbing products distributor.
“Trian believes that Ferguson is an attractive business that trades at a discount to comparable U.S. peers. Trian has contacted members of Ferguson's management team and looks forward to working with them to explore and implement initiatives that it believes can create long-term shareholder value,” the investor said.The stake would make Trian Ferguson's second-largest shareholder, behind BlackRock investment Management which owns 10.46%, according to Refinitiv Eikon data.
Ferguson shares were up 6.2% to 56.46 pounds at 0800 GMT on June 13. In the year to June 12, the shares were down 17%.
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