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Article: Peltz appointment raises privacy issue; Though likely to remain public for now, Legg spurs talk by adding activist.(News)
- Article from:
- Investment News
- Article date:
- November 2, 2009
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Byline: David Hoffman
The appointment last week of billionaire activist investor Nelson Peltz to Legg Mason Inc.'s board is rekindling speculation in the industry that the asset management giant eventually will be taken private but experts said that the company will likely remain public in the near term.
For now, investment management observers noted, Mr. Peltz, who now owns slightly more than 4% of the company, appears happy with the direction in which it is moving.
"Improvement still will be somewhat challenging for them in the near term, said Robert Lee, an analyst with Keefe Bruyette & Woods Inc. who covers Legg Mason. "But revenue growth ...