L'Oréal: benefits from an activist investor at Nestlé.
(CercleFinance.com) - The L'Oréal share is up 3.
8% today, after activist investor Third Point took a 3.5 billion dollar stake in Nestlé's capital and demonstrated its desire to play a role in "continuing the change".
In the letter, Third Point insists it intends to encourage Nestlé's management to: (1) improve productivity; (2) ensure that capital is returned to shareholders; (3) re-shape the portfolio, and monetise Nestlé's L'Oréal stake.
The New York-based investment fund says that, although it has been an excellent investment, this 23% stake in the French cosmetics giant, which is worth over 25 billion dollars, is no longer “strategic”.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
8% today, after activist investor Third Point took a 3.5 billion dollar stake in Nestlé's capital and demonstrated its desire to play a role in "continuing the change".
In the letter, Third Point insists it intends to encourage Nestlé's management to: (1) improve productivity; (2) ensure that capital is returned to shareholders; (3) re-shape the portfolio, and monetise Nestlé's L'Oréal stake.
The New York-based investment fund says that, although it has been an excellent investment, this 23% stake in the French cosmetics giant, which is worth over 25 billion dollars, is no longer “strategic”.
Copyright (c) 2017 CercleFinance.com. All rights reserved.