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Danone: stock up again after Bluebell takes stake

(CercleFinance.com) - The Danone share continues to rise this morning after a 2% gain yesterday.


The activist fund Bluebell Capital took a stake in Danone's capital, Challenges says. This fund would have requested the departure of Emmanuel Faber and a revision of the group's governance and strategy. The fund believes that Danone has missed the implementation of its targets that were presented in May 2017 Challenges adds.

The equity investment has not been disclosed, although we know it is less than 5%, otherwise they would have been obliged to declare it, RBC Capital Markets says.

It remains to be seen whether the Bluebell fund is really entitled to this, as it is a very small asset management company, with assets under management that are well short of some large activist funds, Aurel BCG says, adding that the group is due to present its strategic plan on 25 March.

Meanwhile, RBC says that the demands of the activist fund Bluebell Capital Partners seem to make sense, although it is not certain that management will take action as a result.


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