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Activist investor Peltz still owns shares in Danone -source
June 10, 2013 / 5:20 PM / in 4 years

Activist investor Peltz still owns shares in Danone -source

PARIS, June 10 (Reuters) - Activist investor Nelson Peltz still owns shares in French dairy group Danone, a source close to the matter told Reuters on Monday after a newspaper report said he had sold his stake.

Peltz bought a stake of about 1 percent in November last year and said the company needed to implement cost cuts and other measures to boost its stock price, targeting 78 euros ($99.49) by the end of 2014.

By the close on Monday the shares stood at about 57.44 euros.

French newpaper Le Journal du Dimanche reported on Sunday that Peltz had sold his stake in Danone, generating a gain of 30 million euros ($39.6 million).

Both Danone and Trian Fund Management, Peltz’s U.S. investment vehicle, declined to comment on Monday.

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