Exclusive: Fidelity moves to end DuPont proxy battle - sources

Fidelity Investments, a major investor in DuPont (DD.N), has put pressure on activist fund Trian Fund Management LP and the chemical conglomerate to reach a settlement in what it sees as a detrimental proxy fight, according to people close to the matter. Fidelity, whose 2.5 percent stake makes it DuPont's sixth largest shareholder, has not publicly revealed what sort of compromise it was seeking. Yet its unusual intervention as peacemaker could influence other mutual fund investors in DuPont and pre-empt what could be this year's biggest battle over board representation. In a filing with the U.S. Security and Exchange Commission last Wednesday, Trian disclosed that on March 11 it received a call from one of DuPont's largest stockholders encouraging Trian and the company to resolve the proxy contest and avoid a costly and disruptive conflict.

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