Nelson Peltz from Trian Fund Management repeated his idea for a merger between PepsiCo, Inc. (NYSE:PEP) and Mondelez International Inc (NASDAQ:MDLZ) in his latest quarterly letter. Earlier we updated our readers on Peltz's thoughts on Legg Mason Inc (NYSE:LM). The fund took losses in its short portfolio and was also down in its long positions in Lazard Ltd (NYSE:LAZ), Mondelez International Inc (NASDAQ:MDLZ) and Legg Mason Inc (NYSE:LM) in the second quarter.
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