Trian Fund Management, L.P., an alternative investment management firm, currently beneficially owns, and/or has an economic interest in, shares of the company or companies listed below (collectively referred to as the “Company”). Trian created this website to share its views for how the Company can improve its operating performance and increase value for all shareholders.
This website has been developed in furtherance of Trian’s commitment to seeing the Company enhance shareholder value through a combination of strategic redirection, improved operational execution, more efficient capital allocation and sharpened focus.
This website is for the limited purpose of providing access to certain analyses or “white papers” prepared by Trian Fund Management, L.P. (“Trian Partners”), an alternative investment management firm, with respect to certain companies (“Issuers”) in which Trian Partners and certain of the funds and accounts it manages (collectively, the “Trian Funds”) are shareholders. The white papers represent the opinions of Trian Partners as to how the Issuers can improve their operating performance and increase value for all shareholders. The information contained in the white papers is based on publicly available information with respect to the Issuers as at the date of such white papers. Trian Partners has not sought or obtained consent from any third party to use any statements or information, which are described in the white papers as having been obtained or derived from statements made or published by third parties. Any such statements or information should not be viewed as indicating the support of such third party for the views expressed in the white papers. No warranty is made that data or information, whether derived or obtained from filings made with the Securities and Exchange Commission or any other regulatory agency or from any third party, are accurate.
This website is not intended to be, nor should it be construed as, an offer to sell or a solicitation of an offer to buy any security. This website does not recommend the purchase or sale of any security.
This website is not intended to be, nor should it be construed as, a marketing or solicitation vehicle for Trian Partners or the Trian Funds. The information herein does not provide an accurate and complete presentation of the investment strategies or portfolio holdings of the Trian Funds and should not be relied upon for purposes of making an investment or divestment decision with respect to the Trian Funds. Those who are considering an investment in the Trian Funds should carefully review the relevant Trian Fund’s offering memorandum and the information concerning Trian Partners, including its SEC Form ADV Brochure which is available at: www.adviserinfo.sec.gov.
Funds and accounts managed by Trian Partners currently beneficially own, and/or have an economic interest in, shares of the Issuers. These funds and accounts are in the business of trading, buying and selling securities. It is possible that there will be developments in the future that cause one or more of such funds or accounts from time to time to sell all or a portion of their holdings of one or more of the Issuers in open market transactions or otherwise (including via short sales), buy additional shares (in open market or privately negotiated transactions or otherwise), or trade in options, puts, calls or other derivative instruments relating to some or all of such shares.
(You will not gain access to this website without agreeing to the above terms.)
This website is owned and operated by Trian Fund Management, L.P. (“Trian Partners”). This website is not affiliated with, or endorsed by, any of the public companies referenced herein (collectively, the “Issuers”).
Restrictions on Use
“Trian Partners” is the trade name for Trian Fund Management, L.P. All content included on this website is the property of Trian Partners and is protected by law. All trademarks, service marks and logos displayed on this website or included in the content posted on this website are the property of their respective owners. Nothing on this website shall be interpreted as granting, by implication or otherwise, any license or right to use any image, trademark, logo or service mark. Copying or downloading material from this website does not transfer title to any material on this website to you. Trian Partners reserves all rights with respect to ownership of its trademarks and logos on this website and with respect to copyright ownership of all material on this website and will enforce such rights to the full extent of the law.
Information Purposes Only; No Offer of Securities
This website is not intended to be, nor should it be construed as, an offer to sell or a solicitation of an offer to buy any security. This website does not recommend the purchase or sale of any security. Funds and accounts managed by Trian Partners currently beneficially own, and/or have an economic interest in, shares of the Issuers. These funds and accounts are in the business of trading, buying and selling securities. It is possible that there will be developments in the future that cause one or more of such funds or accounts from time to time to sell all or a portion of their holdings of one or more of the Issuers in open market transactions or otherwise (including via short sales), buy additional shares (in open market or privately negotiated transactions or otherwise), or trade in options, puts, calls or other derivative instruments relating to some or all of such shares.
Third Party Information
The views expressed on this website represent the opinions of Trian Partners and are based on publicly available information with respect to the Issuers and the other companies referred to in any content on this website. Trian Partners has not sought or obtained consent from any third party to use any statements or information indicated in any content on this website as having been obtained or derived from statements made or published by third parties. Any such statements or information should not be viewed as indicating the support of such third party for the views expressed on this website. No warranty is made that data or information, whether derived or obtained from filings made with the Securities and Exchange Commission (the “SEC”) or any other regulatory agency or from any third party, are accurate.
Neither Trian Partners nor any of its affiliates shall be responsible or have any liability for any misinformation contained in any third party, SEC or other regulatory filing or third party report. There is no assurance or guarantee with respect to the prices at which any securities of the Issuers will trade, and such securities may not trade at prices that may be implied in any content on this website. The estimates, projections, pro forma information and potential impact of the Trian Partners action plan contained on this website are based on assumptions that Trian Partners believes to be reasonable as of the date thereof, but there can be no assurance or guarantee that actual results or performance of the Issuers will not differ, and such differences may be material.
Risks You Assume
Information on this website speaks only as of the date indicated. While we make reasonable efforts to provide accurate information, we have no obligation to update or correct any information contained on the website even if we are aware that it is inaccurate, outdated or otherwise inappropriate. Trian Partners may add, change, discontinue, remove or suspend any content posted on this website without notice and without liability. You agree that we are not responsible for any action that you take or decision you make in reliance on any information contained on this website.
We May Monitor Activity on Our Website
We may, but have no obligation to, monitor and record activity on our website for any reason or for no reason.
Due to the global nature of the internet, this website may be accessed by users in countries other than the United States. We make no warranties that materials on this website are appropriate or available for use in such locations. If it is illegal or prohibited in your country of origin to access or use this website, then you should not do so. Those who choose to access this website outside the United States do so at their own initiative and are responsible for compliance with all local laws and regulations.
Disclaimer of Warranties
Your use of this website and use of or reliance upon any materials on it is at your own risk. You acknowledge that we provide the contents of this website on an “as is” basis with no warranties of any kind, express or implied, to the fullest extent permissible by law. We disclaim all representations and warranties, express or implied, of any kind with respect to this website, including, without limitation, warranties of merchantability, fitness for a particular purpose and non-infringement of intellectual property and proprietary rights. Without limiting the foregoing, we do not warrant the availability, accuracy, completeness, timeliness, functionality, reliability, speed or delivery of this website or any part of the information contained on this website or that the server that makes this website available is free of viruses or other components that may infect, harm or cause damage to your computer equipment or any other property when you access, browse download from or otherwise use this website.
Limitation of Liability