Deals
Nestle Plans $21 Billion Buyback, Seeks Deals as Loeb Pushes
- Food company to consider acquisitions to boost growth
- Announcement comes days after Third Point buys stake
Nestle Stake Finds Dan Loeb Pushing for L'Oreal Sale
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Nestle SA plans a 20 billion-franc ($21 billion) share buyback and said it’s on the hunt for acquisitions, just days after activist investor Dan Loeb disclosed a stake in a bid to shake up the world’s largest food company.
Nestle will funnel investment into coffee, pet care, baby food and bottled water and pursue opportunities in consumer health care as it starts its biggest buyback in a decade, the Vevey, Switzerland-based maker of Gerber baby food and DiGiorno pizza said in a statement Tuesday.