Andrew Freedman Quoted in The Deal on Trian’s Campaign at GE
Olshan Activist Partner Andrew Freedman was quoted by The Deal in an article featuring Trian Fund Management LP's Nelson Peltz who divulged that he has accumulated a $2.5 billion GE stake, representing approximately 1% of the company. Peltz most likely is giving Immelt, who is chairman of the board and CEO of GE, more time to improve GE's stock price before launching a proxy contest to elect dissident directors. Freedman notes "you have to think GE is keenly aware that Peltz is likely not looking for another bruising proxy battle and may therefore have some leverage to stand its ground on some of the operational fronts." The article went on to mention that should a contest ensue at GE, Peltz could come face to face with three of the company’s largest investors BlackRock, Vanguard and State Street, who were instrumental in his defeat at DuPont.