Trian Fund Management Reportedly Acquires Stake In Unilever

(RTTNews) - Trian Fund Management LP, the activist hedge fund run by Nelson Peltz, has acquired a stake in Unilever Plc. (UN, ULVR.L, UL), adding pressure on the Dove soap maker, after Unilever's failed bid to buy a Consumer Healthcare business from GlaxoSmithKline Plc. (GSK.L, GSK), according to several reports citing people familiar with the matter.

But the size of the stake couldn't be learned, the reports said.

On 19th January, Unilever said it would not increase its offer for GSK Consumer Healthcare business above 50 billion pounds. The U.K healthcare giant GlaxoSmithKline had already rejected three offers from Unilever, saying that the offers fundamentally undervalued the Consumer Healthcare business and its future prospects.

The Consumer Healthcare business is a joint venture between GSK and Pfizer, with GSK holding a majority controlling interest of 68% and Pfizer 32%.