Loading...
Loading...
Activist investor
The History
Nestle's stake in L'Oreal dates back more than four decades and came at a time when France's Socialist party wanted the government to take over the country's biggest companies, Bloomberg further stated. But Loeb is far from the first to call on Nestle to sell its stake in L'Oreal, as many argued the position doesn't make any strategic or financial sense to continue holding the stock today.
Nestle also holds an agreement with L'Oreal's biggest investor, Liliane Bettencourt's family, who still sets rules on what Nestle can and can't do with its stake. While some of the provisions expired three years ago it nevertheless pits one of Wall Street's biggest activist investors against European politics and one of the richest families. Related Links: 25 Stocks Moving In Monday's Pre-Market Session A Peek Into The Markets: U.S. Stock Futures Gain Ahead Of Durable-Goods Orders Report ________ Image Credit: By Dornum72 - Own work, CC BY-SA 3.0, via Wikimedia CommonsLoading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in