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Loeb's Third Point hedge fund targeting Nestle for strategic changes- Bloomberg
June 25, 2017 / 7:43 PM / 6 months ago

Loeb's Third Point hedge fund targeting Nestle for strategic changes- Bloomberg

June 25 (Reuters) - Nestle SA, is being targeted by activist investor Daniel Loeb’s hedge fund Third Point LLC, Bloomberg reported, citing people familiar with the matter.

Loeb has recently bought a stake in the world's largest packaged foods maker as he seeks strategic changes in the company, Bloomberg said. bloom.bg/2s68Bbo

Nestle said earlier this month that it may sell its $900 million-a-year U.S. confectionery business in the Swiss food group’s latest effort to improve the health profile of its sprawling portfolio.

Nestle and Third Point were not immediately available for comment.

Reporting by Parikshit Mishra in Bengaluru; Editing by Adrian Croft

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