(Alliance News) - Trian Partners has built a stake in Unilever PLC, turning up the pressure on the FTSE 100 company after its failed pursuit of GlaxoSmithKline PLC's consumer health business, the Financial Times reported at the weekend.
Citing people familiar with the matter, the newspaper said Nelson Peltz's activist hedge fund had taken an unspecified position in the Unilever shares, adding to the challenges facing Chief Executive Officer Alan Jope.
The FT said people with knowledge of the stakebuilding did not provide details on its size or when precisely it began.
Unilever shares were up 4.8% at 3,853.00 pence on Monday morning, the best performer in the FTSE 100. Glaxo shares were down 0.2% at 1,644.80p.
Last week, Unilever said it would not increase its offer for Glaxo's Consumer Healthcare unit above GBP50 billion following three failed bids.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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