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Nelson Peltz's Trian Reveals $690 Million Bet on Paint Maker PPG

  • PPG shares sunk most since 2008 before investor’s disclosure
  • ‘Highly engaged shareowner’ now controls 2.9% of paintmaker
Nelson Peltz

Nelson Peltz

Photographer: Patrick T. Fallon/Bloomberg
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Nelson Peltz’s Trian Fund Management disclosed a new position in chemicals manufacturer PPG Industries Inc. valued at about $690 million.

Trian said Tuesday that it controls 7 million shares, about 2.9 percent of the paintmaker’s outstanding stock. After a regulatory filing disclosing that it had held a $269 million stake as of June 30, Trian said in an emailed statement that its current position was worth $690 million.