Third Point Capital built a stake in Johnson & Johnson (JNJ) spinoff Kenvue (KVUE), the Financial Times reported Friday, citing people familiar with the matter.
Pressure on Kenvue's management may be increasing as activist investors focus on the consumer health group, spurring speculation that the company might be a takeover target, the report said.
Hedge fund Toms Capital Investment Management also built a stake in Kenvue, calling for a sale or breakup of the company, other people familiar with the matter said.
Kenvue and Toms didn't immediately respond to requests for comment. and Third Point declined to comment, the Financial Times said.
Kenvue and Third Point didn't immediately respond to requests for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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