Peltz increases ownership in Legg Mason to 4.75 percent

December 19, 2009

Activist investor Nelson Peltz has increased his ownership stake in Baltimore money manager Legg Mason Inc., according to a Securities and Exchange Commission filing this week. Peltz, who joined the company's board this fall after acquiring 4.3 percent of the company's stock, bought an additional 717,000 shares this week. That increases his holdings to just under 7.7 million shares, or 4.75 percent of the company. Peltz is known for targeting good but underperforming brands, but Legg Mason said he is not trying to push for the company's sale or breakup.

- Jamie Smith Hopkins | The Baltimore Sun


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