Activist Investor Builds Stake in Reckitt, Financial Times Reports
-- Activist investor Eminence Capital has built its stake in Reckitt Benckiser to at least 0.5% following record lows for the stock due to infant-formula litigation in the U.S., the Financial Times reports citing unnamed sources.
-- Eminence said Reckitt's board could do more to improve its embattled operating margins, and its stake will likely increase calls for the sale of the company's baby formula division, according to the FT.
-- In March, Reckitt was ordered to pay $60 million as a jury ruled that one of its infant formulas caused the death of a premature infant, but the total liability from litigation could be anywhere between GBP400 billion and GBP8 billion, the FT reports.
-- Eminence wasn't immediately available for comment, and Reckitt declined to comment.
Full story: https://tinyurl.com/365nda79
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
May 21, 2024 05:35 ET (09:35 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations