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
OCTOBER 31, 2013
NYS DOS ID#
NYS Entity Type
DOMESTIC LIMITED LIABILITY COMPANY
2013 - DAN G PROPERTIES LLC
Around the Web
- Dan Loeb buys a chunk of Nestle, blasts ‘staid’ culture
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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By MICHAEL BALSAMO, Associated Press - Thursday Aug 31, 2017
LOS ANGELES (AP) — Motel 6 has agreed to pay $250,000 to settle a lawsuit brought by Los Angeles that alleged one of the chain's locations was a base for human traffickers, drug dealers and gang members, prosecutors said.Los Angeles City Attorney Mike Feuer told The Associated Press on Wednesday that the money will be used to help deter human trafficking.The city in November sued the managers of a motel in the Sylmar neighborhood and G6 Hospitality Property LLC, which operates the Motel 6 chain, seeking to quell "unrelenting crime and nuisance activity."Los Angeles police had made more than 60 arrests at the location since 2013 for prostitution, battery, firearms possession and drug-related charges, authorities said.
- 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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