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Tiffany & Co. slips on Peltz's slashed stake

Posted Mar 27th 2009 12:00PM by Elizabeth Harrow (RSS feed)
Filed under: SEC Filings, Tiffany and Co (TIF), Options

The shares of Tiffany & Co. (NYSE: TIF) are taking a beating today, down nearly 3% at last check. Traders are reacting to news that Trian Fund Management L.P., under the helm of billionaire investor Nelson Peltz, reduced its stake in TIF from 8.5% to 6.9%.

According to a filing with the Securities and Exchange Commission, Trian sold 2.25 million shares on Wednesday and Thursday at prices ranging from $22.58 to $22.61 per share. Now, the fund beneficially owns 8.49 million shares of TIF.

Continue reading Tiffany & Co. slips on Peltz's slashed stake

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