Peltz's Trian picks up 6% stake in Britain's Ferguson

Credit: REUTERS/Mike Blake

Nelson Peltz's Trian Fund Management LP has acquired a stake of about 6% in plumbing products distributor Ferguson Plc, calling the British company an "attractive" investment that trades at a discount to peers in the United States.

June 13 (Reuters) - Nelson Peltz's Trian Fund Management LP has acquired a stake of about 6% in plumbing products distributor Ferguson Plc FERG.L, calling the British company an "attractive" investment that trades at a discount to peers in the United States.

Trian's stake is valued at about 736 million pounds ($934 million), Trian Investors 1 Ltd TI1.L said in a statement on Thursday.

Trian Investors 1 is a Guernsey-domiciled limited company, which is managed by Trian Investment Management LLC, a unit of Trian Fund.

($1 = 0.7881 pounds)

(Reporting by Shariq Khan in Bengaluru Editing by Saumyadeb Chakrabarty)

((Shariq.Khan@thomsonreuters.com; Within U.S.+1 646 223 8780, outside U.S. +91 80 6749 9759;))

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