Third Point, a Hedge Fund, Sets Its Activist Sights on Nestlé
ByLONDON — Over the past two decades, the hedge fund mogul Daniel S. Loeb has established himself as one of the biggest activist investors around. Now, he has set his sights on one of Europe’s largest corporate citizens: Nestlé, the global food giant.
In a letter to investors sent on Sunday, his Third Point hedge fund argued that Nestlé, a Swiss conglomerate whose wares range from candy to baby food to pet food, should sell its stake in L’Oréal and sell off nonessential operations as part of a broad shake-up.
It is the latest ambitious move by an activist investor to rattle the leaders of the corporate world. Flush with cash, these funds have taken stakes in ever-bigger companies, hoping to goad them into selling themselves or breaking themselves up to improve their stock prices…
Third Point, a Hedge Fund, Sets Its Activist Sights on Nestlé
