US firms quick at cutting deals with activists
Latest involves Sysco granting board seats to Trian Fund
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EARLY in August, a call came into Sysco Corp from Trian Fund Management LP, warning the food distributor that the activist hedge fund was about to disclose a large stake in the company.
Trian, run by veteran investor Nelson Peltz, unveiled its 7.1 per cent stake in Sysco on Aug 14, and asked for board representation and for the Houston-based company to improve its profitability and return money to shareholders.
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