1. L'Oreal Advances on Prospect of Sale of Nestle's Holding

    L'Oreal Advances on Prospect of Sale of Nestle's Holding

    L’Oreal SA shares surged the most in seven years on speculation that the death of the company’s biggest shareholder, Liliane Bettencourt, could clear up the cosmetics maker’s ownership through a takeover or a buyback. While Nestle could have sold its 23 percent stake in L’Oreal before Bettencourt’s death Wednesday, her passing may make a sale to the French company more likely, according to analysts . The stake is worth about 23.8 billion euros ($28.4 billion) at the current share price...

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    1. Speculation will now inevitably be reignited around Nestle's intentions towards its L'Oreal stake.
    2. It is with great sadness that we received the news of the passing away of Mrs. Liliane Bettencourt.
    3. In this painful moment for us, I would like to reiterate, on behalf of our family, our entire commitment and loyalty to L'Oreal and to renew my confidence in its President Jean-Paul Agon and his teams worldwide.
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