Trian Fund Management LP, the hedge fund co-founded by activist Nelson Peltz, boosted its stake in DuPont Co. and met top executives to discuss ways to increase shareholder value, according to people familiar with the matter.
Trian Fund Management LP, the hedge fund co-founded by activist investor Nelson Peltz, acquired a 0.6 percent stake in DuPont Co. as the chemical maker considers options for one of its more volatile businesses.
DuPont Co. changed its bylaws to provide payouts to executives fired in a takeover and to alter how special meetings are run, days before an activist investor is expected to reveal a large stake in the chemical maker.
U.S. stocks rose, after the Standard & Poor’s 500 Index snapped an eight-day rally yesterday, as Federal Reserve Chairman Ben S. Bernanke said the central bank’s asset purchases are not on a preset course.
DuPont Co. rose the most in more than a year after the New York Times’s Andrew Ross Sorkin said activist investor Nelson Peltz amassed a “very big” stake in the largest U.S. chemicals company by market value.
Danske Capital, a Copenhagen-based fund which owns 1.7 percent of Danisco A/S shares, is counting on DuPont Co. to extend its $5.8 billion takeover offer and will decide whether to accept it at the last possible moment.
DuPont Co. , the third-biggest U.S. chemical maker, won control of Danisco A/S after getting 92.2 percent of the Danish food-ingredient maker’s shares in its 33.4 billion-krone ($6.36 billion) tender offer.