The activists play the balance sheet by selling a division to buy back stock and leveraging the balance sheet and buying back more stock.

Next quotes

• Nelson Peltz:

  Before, Tiffany sold watches only in its own stores. Now, Tiffany watches are sold in 1,500 stores.

• Nelson Peltz:

  Legg Mason's structure is misunderstood by the market. Legg Mason has an affiliate model. They own

• Nelson Peltz:

  You know what term you don't hear anymore? Arbitrage. The markets have gotten too efficient.

• Nelson Peltz:

  I understood the power of Heinz since I was a kid, and I started to work for my father selling food

• Nelson Peltz:

  Sequestration, sequestation - however you pronounce that word - and gridlock aren't all that bad.

• Nelson Peltz:

  I love women.

• Nelson Peltz:

  I'm willing to have two directors on the DuPont board, me being one of them.

• Nelson Peltz:

  Sometimes it takes longer to create value, but if the companies generate more earnings, the stocks

• Nelson Peltz:

  The name 'Mondelez' I hate. It sounds like a disease.

• Nelson Peltz:

  You must make some decisions Wall Street dislikes.