Nelson Peltz’s activist hedge fund Trian Fund Management has built a stake in Allstate, people familiar with the matter told Reuters’ Svea Herbst-Bayliss and David French. Trian’s exact stake and plans for Allstate could not be learned, the report stated, adding that Allstate has hired investment bankers to advise it on how to handle Trian.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ALL:
- Early notable gainers among liquid option names on October 17th
- Allstate Stock (NYSE:ALL) Rises; Activist Investor Trian Fund Builds Stake
- Early notable gainers among liquid option names on October 13th
- Allstate price target raised to $119 from $117 at Jefferies
- Progressive price target raised to $167 from $163 at Jefferies
Questions or Comments about the article? Write to editor@tipranks.com