NEW YORK (AP) — Trian Fund Management is now one of General Electric’s biggest shareholders following the activist investor’s largest investment, about $2.5 billion, as it positions itself to play a role in the transformation of the industrial conglomerate.
Trian acquired 98.5 million shares, or about 1 percent of the Fairfield, Connecticut, company. Trian says its executives, Nelson Peltz and Ed Garden, have a longstanding relationship with GE CEO Jeff Immelt.
Immelt says GE is looking forward to constructive dialogue with Trian as it moves ahead with its transformation.