{"id":18547,"date":"2025-04-25T22:00:26","date_gmt":"2025-04-25T22:00:26","guid":{"rendered":"https:\/\/thisbiginfluence.com\/?p=18547"},"modified":"2025-04-25T22:00:26","modified_gmt":"2025-04-25T22:00:26","slug":"dan-loebs-third-point-builds-stake-in-maker-of-tylenol-and-neutrogena","status":"publish","type":"post","link":"https:\/\/thisbiginfluence.com\/?p=18547","title":{"rendered":"Dan Loeb\u2019s Third Point builds stake in maker of Tylenol and Neutrogena"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Unlock the Editor\u2019s Digest without spending a dime<\/p>\n<p class=\"article__content-sign-up-topic-description\"><span>Roula Khalaf, Editor of the FT, selects her favorite tales on this weekly publication.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=74df115d-8063-4537-9cf0-6a0b9bb20381\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Dan Loeb\u2019s Third Level Capital has constructed a stake in Tylenol and Neutrogena maker Kenvue, changing into the third activist hedge fund to focus on the $43bn shopper well being group in current months, mentioned individuals acquainted with the matter. <\/p>\n<p>Third Level\u2019s place in <a href=\"https:\/\/www.ft.com\/stream\/17c8c947-422c-42d3-a079-f316038638f2\" data-trackable=\"link\">Kenvue<\/a> could add stress on the corporate\u2019s administration, which has more and more been considered as a takeover goal after it was spun out of healthcare group Johnson &amp; Johnson in 2023. <\/p>\n<p>In March, Kenvue named Jeff Smith, chief govt of activist investor Starboard Worth, to its board alongside two different administrators, averting a doable proxy battle. However since then, rival activist investor Toms Capital Funding Administration has additionally amassed a stake, pushing for a sale or break-up of the corporate, mentioned different individuals acquainted with the matter. <\/p>\n<p>The dimensions of Third Level\u2019s stake and the extent to which the hedge fund has engaged with Kenvue couldn&#8217;t instantly be established. Third Level and Toms declined to remark.<\/p>\n<p>Kenvue on Friday refused to touch upon particular person shareholder discussions and mentioned it was dedicated to performing in the perfect pursuits of the corporate, including: \u201cWe stay targeted on accelerating sustainable, worthwhile progress and enhancing shareholder worth.\u201d <\/p>\n<p>Kenvue\u2019s manufacturers embrace mouth wash Listerine, smoking cessation product Nicorette and skincare product Johnson\u2019s Child. The corporate\u2019s skincare enterprise has been shrinking because it faces stiff competitors from unbiased manufacturers tailor-made to youthful shoppers. Kenvue\u2019s internet gross sales totalled $15.5bn this 12 months, flat with final 12 months. <\/p>\n<p>Shares in Kenvue closed up about 1 per cent at $23 on Friday and are up 8 per cent this 12 months, however virtually unchanged from the corporate\u2019s itemizing value when it separated from J&amp;J. Kenvue\u2019s inventory jumped 1 per cent after the Monetary Instances reported about Third Level\u2019s stake.<\/p>\n<p>Third Level, which has focused companies together with Walt Disney and Shell in recent times, has a historical past of collaborating with Toms on activist campaigns within the shopper sector. In 2022, each <a href=\"https:\/\/www.ft.com\/hedge-funds\" data-trackable=\"link\">hedge funds<\/a> constructed stakes in Colgate-Palmolive and agitated for a sale of its Hill\u2019s Pet Vitamin division. <\/p>\n<p>Third Level, which manages roughly $11.5bn, additionally adopted Starboard into software program firm Salesforce, which resulted in a brokered peace and a board seat for an additional activist investor \u2014 Mason Morfit, co-chief govt of hedge fund ValueAct Capital.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.ft.com\/content\/74df115d-8063-4537-9cf0-6a0b9bb20381\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the Editor\u2019s Digest without spending a dime Roula Khalaf, Editor of the FT, selects her favorite tales on this weekly publication. Dan Loeb\u2019s Third Level Capital has constructed a stake in Tylenol and Neutrogena maker Kenvue, changing into the third activist hedge fund to focus on the $43bn shopper well being group in current [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18549,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[8940,12960,12961,1307,12963,9183,1473,12962],"class_list":["post-18547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-builds","tag-dan","tag-loebs","tag-maker","tag-neutrogena","tag-point","tag-stake","tag-tylenol"],"_links":{"self":[{"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/posts\/18547","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18547"}],"version-history":[{"count":0,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/posts\/18547\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/media\/18549"}],"wp:attachment":[{"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}