‘Activist Hedge Fund Intervenes in Troubled Unilever’ | Financial
This was reported in the Financial Times and the Wall Street Journal. Trian Partners is an active $8.5 billion hedge fund owned by Nelson Peltz, headquartered in New York. The serving size of Unilever is unknown.
Alan Job’s collective action agreement is already under great pressure. Earlier this month, it was announced that it was seeking to acquire GSK, a joint venture between GlaxoSmithKline and Pfizer, in a €60 billion bid. GSK rejected this offer and investors penalized Unilever in the stock exchange. The stock is down 11% in two weeks.
Under pressure at bay
Job came under fire for some time. Last fall, analysts already speculated about a possible group split. With the arrival of Trian Partners, the CEO faces a volatile fund that typically forces strategic and management changes, according to a Financial Times report. Unilever and Trian declined to comment on trade papers.
Trian Partners was founded in 2005 by Nelson Peltz, Ed Garden and Peter May. The hedge fund has previously targeted companies Mondelez International, Procter & Gamble and Sysco.
In recent days, Unilever shareholders have been openly criticizing. APG, the pension provider, is also involved, among others, ABP. APG said in a statement that it was awaiting “an improvement in the company’s underlying growth.” “We love positive surprises, but it’s not clear to us that this is one,” APG said in response to the GSK acquisition bid. Earlier there were criticisms from Terry Smith, one of the largest shareholders of Unilever.
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