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Activist investment firm Trian Fund Management LP has trimmed its stake in two consumer staples companies, Procter & Gamble Co and snack foods company Mondelez International Inc, according to. | May 15, 2021
Activist investor Trian trims P&G, Mondelez stakes
05/14/2021 22:23
NEW YORK (Reuters) - Activist investment firm Trian Fund Management LP has trimmed its stake in two consumer staples companies, Procter & Gamble Co and snack foods company Mondelez International Inc, according to regulatory filings.
Trian, founded by Nelson Peltz, Ed Garden and Peter May, held 8.9 million shares in P&G at the end of the first quarter, down 9.6% from the 9.8 million shares it owned at the end of the fourth quarter, according to a regulatory filing.
Peltz joined the P&G board in 2018 after a bitter proxy contest.
The firm also cut its stake in Mondelez by 23% to hold 9.4 million shares.