1. Nestle Plans US$20.8B Share Buyback after Third Point Pressure

    Nestle Plans US$20.8B Share Buyback after Third Point Pressure

    Nestle plans to buy back as much as 20 billion Swiss francs (US$20.79 billion) worth of shares by June 2020, the Swiss food giant said on Tuesday as it responds to pressure brought by U.S. activist shareholder Third Point LLC. The New York-based hedge fund, controlled by billionaire investor Daniel Loeb, disclosed a US$3.5 billion stake in the company on Sunday and is pushing for Nestle to more aggressively boost performance...

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    1. In the context of low interest rates and strong cash flow generation, share buybacks offer a viable option to create shareholder value.
    2. Nestle's recent announcement that it would explore strategic options for its U.S. confectionery business is consistent with this overall approach.
    3. It is rare to find a business of Nestle's quality with so many avenues for improvement.
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