Nestle under pressure to sell its stake in L’Oreal

Activist hedge fund Third Point, led by investor Daniel Loeb, has been pressurizing Nestle to sell its stake in L’Oreal.

On Monday, in a report published by the Financial Times which triggered fresh rounds of speculation, Paul Bulcke, Nestle’s Chairman, stated the company’s stake in French cosmetics firm L’Oreal was “something active on the board’s agenda”.

Incidentally, Nestle has come under pressure from New York-based activist hedge fund, Third Point, to overhaul its business and sell its stake in L’Oreal.

When asked whether Nestle would consider allowing Third Point on its board, Bulcke declined to comment saying, “We are open to all ideas and then we judge what is best for the company”.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s