Peltz's Trian Fund reveals 4.27 pct stake in InterContinental

Newswire

LONDON, May 31 (Reuters) - U.S. activist investor Nelson Peltz said his Trian Fund Management has picked up a stake of 4.27 percent in the world's biggest hotelier InterContinental Hotels Group, pushing its shares to be the FTSE 100 biggest gainer. InterContinental shares rose 3.9 percent to 1,494 pence by 0930 GMT following a high of 1,525p on Thursday after Peltz was obliged to declare the stake once it had gone over 3 percent in accordance with UK rules. The FTSE 100 was up 0.8 ...

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