Nelson Peltz and Trian have boosted their stake in Tiffany & Co by 2.3 per cent, it has emerged.

Billionaire activist investor Peltz and his Trian Fund Management LP have increased their stake from 5.6 per cent to 7.9 per cent, the Wall Street Journal reports.

The investor took advantage of sharp drops in the shares of the jewellery company, which have fallen by 30 per cent in the last year alone.

Tiffany has blamed the fall in shares on lower spending during the festive season, linked to poor consumer spending as a result of the US credit crunch.

Trian now owns 10.72 million shares in the company, after Trian partners Peter May and Edward Garden purchased 3.7 million between early December and the start of this week.

Tiffany shares rose 3.7 per cent to $36.99 on the New York Stock Exchange today.

Source:

Wall Street Journal - Peltz, Trian Increase Stake in Tiffany
http://online.wsj.com/article/SB120049652331694709.html?mod=googlenews_wsj

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