Trian Partners, Nelson Peltz’s activist hedge fund, has built a stake in Unilever Plc. The move ratchets up the pressure on the consumer goods maker. The Financial Times, which earlier reported the development, said that the people with knowledge of the stake building had not provided details on the size of the hedge fund’s stake.
Trian called for a slew of changes in the consumer goods company Procter & Gamble Co (PG.N) Peltz was then added to the board of the company, following a months-long proxy fight – the biggest ever involving a U.S. company at the time.
The strategy of Unilever – maker of brands such as Dove soap and Hellmann’s mayonnaise – has come under the investor microscope. The group this month effectively abandoned its pursuit of GlaxoSmithKline’s consumer healthcare business. Some analysts have said the proposed mega-deal, which would have been one of the largest ever on the London market, was unexpected.
Comments are closed.