Trian Ends Six-Year Push at Legg Mason With Sale to ShandaBy
Activist exits after Legg lost 42% of its value in past year
Shanda sees growth opportunities in asset management business
Activist investor Trian Fund Management agreed to sell its 9.9 percent stake in Legg Mason Inc. to Shanda Group, ending a six-year push to lift the share price of the Baltimore-based money manager.
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