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How Third Point's Nestlé Assault Makes L'Oréal Worth It

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The threat of the sale of a fifth of a company's shares would normally cause the price to fall. Yet L'Oréal, the French cosmetics company, has risen almost 4 per cent on just such a threat. On Monday, hedge fund Third Point revealed it had taken a stake in Nestlé and urged the Swiss consumer goods company to offload its 23 per cent holding in L'Oréal...

Mentions: Activist Investors Hedge Fund Sanofi