Hints and tips:
...Shares have fallen 8 per cent over the past five years, compared with a 7 per cent rise in the benchmark S&P 500 Consumer Staples over the same period....
...Analyst Bruno Monteyne at Bernstein last year flagged Unilever as a potential next project for Peltz, saying: “There are parallels from PepsiCo, where he (unsuccessfully) attempted to force a demerger of...
...James Edwardes Jones, analyst at RBC Capital Markets, said: “At P&G, we believe Nelson Peltz stimulated changes to culture, remuneration and organisational structure....
...And like Unilever, P&G had a turnround plan in place before Trian turned up....
...P&G’s shares have sharply outperformed Unilever during that period. “Activist investors will look at P&G and say: Is there a similar thing to be done at Unilever?”...
...A dreary share price performance under chief executive Alan Jope has made Unilever a potential target for Peltz’s Trian Fund Management, according to research published this week by US investment house Bernstein...
...CCL’s current Price/BV stands at 0.39x, vs an average P/BV of 1x over the last year and a longer term average of 1.45x. On our TP, the implied P/BV is 0.50x....
...for activist investor Nelson Peltz....
...P&G, whose stuttering financial performance has made it a target for activist investor Nelson Peltz, disclosed in results published on Tuesday that it missed revenue targets for the year....
...The acquisition marks P&G’s first move since Nelson Peltz, the billionaire activist, joined its board last month....
...After spending much of last year under siege by billionaire activist Nelson Peltz, P&G has been trying to reignite sales and fend off smaller competitors like Dollar Shave Club....
...So by 1973 Wells Fargo set up a new fund that simply tracked the S&P 500 — weighted by the market value of each constituent....
...Ali Dibadj, analyst at Bernstein, said: “Ms Nooyi succeeded in getting investors on board against a split of the company, especially after a strong cost-cutting programme and a period of reinvestment....
...“With Nelson Peltz potentially on the board (and the publicity from the proxy battle), we suspect market share will become more of a priority for P&G,” said Nik Modi from RBC....
...Main players David Taylor P&G chief executive David Taylor spent at least $35m as the company fought to prevent Nelson Peltz taking a seat on its board Nelson Peltz The veteran activist investor wants...
...Ali Dibadj, analyst at Bernstein, said that while P&G’s strategy was “appropriate”, it “may deliver slower progress than more dramatic structural change”....
...Procter & Gamble has claimed victory in activist investor Nelson Peltz’s proxy battle to win a board seat. But in many ways, both sides have lost....
...A week after Nelson Peltz bought a $3.5bn stake in Procter & Gamble, the first salvo in months of jockeying between the activist billionaire investor and the consumer goods giant, P&G made a calculation....
...The largest, where Nelson Peltz sought a board seat at Procter & Gamble, went down to the wire in a vote earlier this month. In the end, Mr Peltz lost by a tiny margin....
...“In a slow-moving industry like consumer packaged goods, you have a good safety net so companies don’t blow up. So a lot of them have been complacent,” said Ali Dibadj, analyst at Bernstein....
...Ali Dibadj, an analyst at Bernstein, who has been a proponent of splitting the company up should P&G’s continue to underperform, said he stood by that view....
...“The truth is, no one really knows what the [return on investment] of television is to build a brand,” says Ali Dibadj, analyst with Bernstein Research....
...Early last year, the company allowed Nelson Peltz on to its board to make a case for savings, after he abandoned his public push for the company to merge with PepsiCo’s Frito-Lay snack business....
...Robin Zhu, analyst at Bernstein Research, says the retail prices are still headed downward for cars in China, with intense competition, dealer “overcrowding” and a boom in budget SUVs....
...In 2011, Trian, the hedge fund house led by Nelson Peltz, published a white paper calling for a reorganisation and restructuring of State Street that included a sale of SSgA....
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