Biotherm Homme KitKat Moisturiser on the cards? Not quite…
An interesting report by Ben Harrington of the Daily Telegraph on Tuesday, March 2nd 2010 suggests that Swiss giants Nestlé have informally been talking to L’Oréal’s largest shareholder and only child of founder Eugène Schueller, Liliane Bettencourt about an acquisition of her stake in the group. The report goes on to say that traders believe Ms Bettencourt has asked Nestlé to put their offer in writing before she decides. L’Oréal own Biotherm Homme and Kiehl’s male grooming brands.
In light of this “gossip” Nestlé rose 0.5 to Sfr53.9(£33.23) and L’Oréal gained €1.1(99p) to €77.
Nestlé already own 30% of L’Oréal and Ms Bettencourt 31%. Ms Bettencourt is said to be worth a paltry $13.4 billion.
Watch this space for further developments!
Source: Daily Telegraph UK and Reuters UK.