Nov 6 Activist investor Nelson Peltz has bought
a one percent stake in Danone SA and is expected to
push for cost cuts and operational changes at the French food
conglomerate, the Financial Times reported.
Peltz will ask Danone chief executive Franck Riboud to work
on improving operating margins by 100 basis points to 15.1
percent by 2015, and return all excess cash in the form of share
buybacks, the newspaper said
Peltz's stake in the world's largest yoghurt maker is valued
at about 300 million euros ($384 million), according to the
Trian, the U.S. investment firm co-founded by Peltz, views
Danone as being undervalued and would not seek any radical
action, the paper said, citing sources familiar with Peltz's
Peltz and Danone were not immediately available for comment.
($1 = 0.7812 euros)
(Reporting By Pallavi Ail in Bangalore; Editing by Ken Wills)