Dan Loeb just placed his biggest bet ever on a chocolate company. The activist investor’s hedge fund Third Point LLC amassed a $3.5 billion stake in Nestle, the world’s largest packaged foods company, representing roughly 1.25 percent of the Swiss-based company’s shares. Loeb is hoping to reinvigorate the brand amid changing food tastes as well...
NYS Entity Status
NYS Filing Date
FEBRUARY 01, 2013
NYS DOS ID#
DANIEL L. ERNESTINE
4964 STILLWOOD LANE
LIVERPOOL, NEW YORK, 13088
NYS Entity Type
DOMESTIC LIMITED LIABILITY COMPANY
2013 - DAN ERNESTINE LLC
AROUND THE WEB
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By Carleton English - Monday Jun 26, 2017
- Dan Loeb's Third Point Makes Its Largest-Ever Bet With Nestlé Stake
Sunday Jun 25, 2017
Billionaire activist investor Daniel Loeb’s Third Point LLC hedge fund has taken a $3.5 billion stake in Nestlé SA, piling pressure on the world’s largest packaged foods company to find ways to accelerate growth.
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- Shareholders Demand More Drastic Shifts at Nestlé
By STEPHANIE STROM - Tuesday Jun 27, 2017
The changes requested by the Third Point hedge fund underscore the idea that legacy food brands must radically shake up their portfolios to remain profitable.
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The fund, run by Daniel S. Loeb, has called on the Swiss food giant to sell its stake in L’Oréal and move more quickly to adapt to changing consumer tastes.
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