By Sam Forgione
NEW YORK, July 17 Trian Fund Management, headed
by Nelson Peltz, has amassed a "big stake" in chemicals maker
DuPont, CNBC said on Wednesday.
Shares of DuPont rose 4.8 percent on the news of Trian's
stake. At the CNBC Institutional Investor Delivering Alpha
Conference, Peltz declined to comment in response to questions
by CNBC host Andrew Ross Sorkin on his DuPont interest.
DuPont declined to a Reuters request for comment. "We don't
comment on market rumors or speculation," DuPont spokesman
Michael Hanretta said.
Investors have agitated for months about the company's low
stock price compared with rivals Monsanto and BASF
. While DuPont is the second-largest seed maker after
Monsanto, its stock trades at a large discount to its rival.
DuPont's titanium dioxide paint business, the largest in the
world, has been blamed by some investors as weighing on the
stock. The business is highly cyclical and requires large
infusions of cash to maintain during troughs.
Trian said on Wednesday that it wants PepsiCo Inc.
to buy Oreo cookie maker Mondelez International Inc.
for $35 to $38 a share, or to separate its snacks and beverage
business. Trian has a roughly $2.7 billion stake
in both Pepsi and Mondelez combined.