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Activist investor targets 'staid' Nestle for change

Daniel Loeb's Third Point unveils a stake of more than 1% in Nestle; calls for latter to sell its holdings in L'Oreal


ACTIVIST investor Daniel Loeb's Third Point LLC on Sunday unveiled a stake of more than one per cent in Switzerland's Nestle SA and urged the world's largest packaged foods maker to improve its margins, buy back stock and shed non-core businesses.

The 3.28 billion Swiss...

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