Third Point takes stake in Colgate-Palmolive; sees value in pet food spinoff – CNBC

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“Hill’s could deliver even faster growth and better margins if it were a stand-alone business,” Loeb says in a forthcoming investor letter, according to the report which cited sources.

Colgate and Third Point did not immediately respond to Reuters’ requests for comment.

Colgate-Palmolive shares rose 2.2% in morning trading.