An online article from thestreet.com reported that L'Oreal saw its shares hit an all-time high on Monday, June 26, after Nestle received pressure to sell its 23% stake worth more than $25 billion.
L'Oreal shares were reportedly up 4.09% to €195.65 in Paris at 9:54 am Paris time, extending a three-month gain of 8.83% and hitting its highest-ever valuation.
The article, written by Lisa Botter, states that Third Point LLC, an investor owning a 1.3% stake in Nestle, called for the food company to shed assets, increase share buybacks and monetize its L'Oreal stake.
For more details please visits: www.thestreet.com
