Third Point presses for 'bold action' at Nestle

Company is under pressure to improve margins, buy-back shares, get rid of non- core businesses

Nestle is under pressure from US activist shareholder Third Point, which has taken a $3.5 billion stake in the food maker and is pushing Europe’s largest company to improve margins, buy back shares and get rid of non-core businesses.

Nestle shares jumped as much as 4.8 per cent on Monday, touching a record high as investors hoped that Third Point’s stake, made public on Sunday night, will accelerate change at the group based on the shores of Lake Geneva which has a reputation for being slow-moving and insular.

“Nestle has arguably been lackadaisical and complacent and underperformed its potential,” Bernstein