Billionaire Nelson Peltz stands to make about $266 million over the past decade on two separate investments in Legg Mason Inc., after the asset manager agreed to be acquired Tuesday.
The takeover by Franklin Resources Inc. means Peltz’s Trian Fund Management has turned a $70.3 million profit in the nine months since it disclosed a new stake in the Baltimore-based money manager, according to data compiled by Bloomberg. In all, Trian stands to make a healthy 55% return on its $128 million investment this time around, the data show.
