Activist Investor Nelson Peltz's Fund Buys Stake In Unilever: FT

Trian Fund Management LP, the activist hedge fund run by Nelson Peltz, has built a stake in Unilever PLC (NYSE: UL), the Financial Times reports, citing people with direct knowledge of the matter. 

The $8.5 billion New York-based hedge fund has taken a position in shares of the British multinational consumer goods company. 

 Earlier this month, Unilever offered $68 billion for the health care unit of GlaxoSmithKline plc (NYSE: GSK). However, GSK rejected the offer as it was too low. 

Unilever has faced strong opposition from investors to its plan to buy the GSK healthcare business.

Analysts have said the proposed mega-deal, which would have been one of the largest ever on the London market, had been unexpected and raised questions about Unilever's plan for a more gradual shift away from lower-margin goods to health, beauty, and hygiene products.

Unilever’s shares have been under pressure in recent months as it has struggled to boost volumes. 

Unilever shares could benefit from Peltz’s reported stake building when the stock markets open on Monday. 

Before buying a stake and focusing on Unilever, Peltz was on the board of Procter & Gamble Co (NYSE: PG).

Unilever shares were down 0.18% on Friday, closing at $49.31.