PFE

Pfizer, Inc.

53.91
USD
-0.15%
53.91
USD
-0.15%
38.48 61.71
52 weeks
52 weeks

Mkt Cap 300.72B

Shares Out 5.58B

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Unilever gains after report of activist investor Trian taking stake (update)

Update 9:18am: Adds reporting from CNBC's David Faber. Trian, led by Nelson Peltz, accumulated a stake in the consumer goods company, according to a FT report. The size of the stake or when Trian began building it wasn't known. Trian hasn't had any recent conversations with Unilever about its investment, according to CNBC's David Faber. Trian's Peltz died meet with the Unilever CEO in September to discuss Unilever's West Bank boycott related to Ben & Jerry's ice cream. Peltz and Trian have had previous experience with consumer packaged goods company and last April Peltz stepped down from the board of Procter & Gamble (NYSE:PG) four years after taking a stake and tussling with the company over its strategy. Trian also previously had a stake in Mondelez (NASDAQ:MDLZ). Unilever shares plunged 14% on Tuesday in U.S. trading as investors reacted to its bid for GlaxoSmithKline’s consumer unit. The business under consideration was formed in 2018 from the combination of the consumer assets of GSK and Pfizer (NYSE:PFE). News of the Trian stake in Unilever comes after the company earlier this week said it wouldn't increase its bid for the GSK consumer health unit.

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