Dow Jones, a News Corp company

News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services

Dow Jones

News Corp

Search

KKR Near Deal to Buy WebMD

KKR Near Deal to Buy WebMD

President’s Sign-Off Deals Blow to China Inc.’s Global Spending Spree

President’s Sign-Off Deals Blow to China Inc.’s Global Spending Spree

Boeing, Flying High, Stays the Course on Job Cuts

Boeing, Flying High, Stays the Course on Job Cuts

Next Leap for Robots: Picking Out and Boxing Your Online Order

Next Leap for Robots: Picking Out and Boxing Your Online Order

Norway Takes Lead in Race to Build Autonomous Cargo Ships

Norway Takes Lead in Race to Build Autonomous Cargo Ships

‘Dunkirk’ Triumphs at Box Office

‘Dunkirk’ Triumphs at Box Office

Canadian Wildfires Choke Lumber Supply to U.S. Home Builders

Canadian Wildfires Choke Lumber Supply to U.S. Home Builders

Wal-Mart, Amazon Rivalry Spreads to Forklifts

Wal-Mart, Amazon Rivalry Spreads to Forklifts

Big Tobacco Finds Surprise Allies in Smokeless Push

Big Tobacco Finds Surprise Allies in Smokeless Push

Siemens Cuts Russia Presence

Siemens Cuts Russia Presence

Lyft Shifts Gears With New Driverless-Car Division

Lyft Shifts Gears With New Driverless-Car Division

Small

Medium

Large

Save Article

Sign In to Save Subscribe to WSJ

Nestlé Plans Share Buyback After Pressure From Third Point

Packed foods giant to focus spending on beverages other high-growth segments, explore deals in consumer health care

By

Saabira Chaudhuri and

Saabira Chaudhuri

The Wall Street Journal

Biography Saabira Chaudhuri
@saabirac
Google+
Saabira.Chaudhuri@wsj.com

Brian Blackstone

Brian Blackstone

The Wall Street Journal

Biography Brian Blackstone
@Blackstonebrian
brian.blackstone@wsj.com

Updated June 27, 2017 2:40 p.m. ET

Nestlé on Tuesday announced plans to launch a $20.8 billion share buyback, focus its capital spending on categories like coffee and pet care and look for consumer health-care acquisitions, a move that comes after it found itself the target of activist investor Third Point LLC.

Nestlé wasn’t expected to deliver an update to shareholders until September, but its plans were fast-tracked amid investor pressure that culminated with Third Point founder Daniel Loeb on Sunday night publishing a letter on how Nestlé should change...

Most Popular Videos

Most Popular Articles

Popular on WSJ

Most Popular Videos

Most Popular Articles


<!-- share menu -->
<menu class="shareMenu  shareMenu--horizontal">


   <li class="shareMenu__item hide4">
     <a href="#print" class="shareIcon" data-sharemenu-action="print" aria-label="Print" data-sharemenu-track="print">
       <svg class="shareSVG shareSVG--print" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 20 17.6"><path d="M-711-3365v4612H969v-4612H-711zM25 22.6H-5V-5h30v27.6z" fill="none"/><path d="M2.3 14.6h1v3h13.4v-3h1c1.3 0 2.3-1 2.3-2V9c0-1-1-2-2.2-2h-1V3.8l-4-3.8H3.4v7h-1C1 7 0 8 0 9v3.4c0 1.2 1 2.2 2.3 2.2zM12.5.6L16 4.2h-3.5V.8zM4 .7h8.2v4H16V7H4V.7zm0 14h12V17H4v-2.4z"/></svg>
     </a>
   </li>

  <li class="shareMenu__item">
    <a class="shareIcon shareIcon--facebook" data-sharemenu-action="window" data-sharemenu-track="facebook" aria-label="Facebook" rel="nofollow" href="https://web.archive.org/web/20170724001902/https://www.facebook.com/sharer/sharer.php?u=https://www.wsj.com/articles/nestle-plans-20-8-billion-share-buyback-over-the-next-3-years-1498581756" target="_blank">
      <svg class="shareSVG shareSVG--facebook" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 10.5 22.5"><path d="M10 11.3H7v11.2H2V11.3H0v-4h2.2V4.7C2.2 3 3.2 0 7 0h3.5v4H8c-.5 0-1 0-1 1v2.3h3.5l-.4 4z"/></svg>
    </a>
  </li>

  <li class="shareMenu__item">
    <a class="shareIcon shareIcon--twitter" data-sharemenu-action="window" data-sharemenu-track="twitter" aria-label="Twitter" rel="nofollow" target="_blank" href="https://web.archive.org/web/20170724001902/https://twitter.com/intent/tweet?text=Nestl%C3%A9%20plans%20share%20buyback%20after%20pressure%20from%20Third%20Point&url=https://www.wsj.com/articles/nestle-plans-20-8-billion-share-buyback-over-the-next-3-years-1498581756&via=WSJ">
      <svg class="shareSVG shareSVG--twitter" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 21.1 17.4"><path d="M19 4.3V5c0 5.7-4.4 12.4-12.4 12.4-2.4 0-4.7-.7-6.6-2h1c2 0 4-.6 5.4-1.8-2 0-3.5-1.3-4-3h1.8C2.3 10 1 8.2 1 6c.6.2 1.2.4 2 .4-1.2-.7-2-2-2-3.6 0-.8.3-1.6.7-2.2 2 2.7 5.3 4.4 9 4.6-.2-.3-.2-.7-.2-1 0-2.4 2-4.4 4.3-4.4 1.2 0 2.4.5 3 1.4 1-.2 2-.6 2.8-1-.3 1-1 1.8-2 2.3 1 0 1.8-.3 2.6-.7-.5 1-1.3 1.7-2 2.3"/></svg>
    </a>
  </li>

  <li class="shareMenu__item hide12 hide16">
    <span class="shareIcon" data-sharemenu-action="partial-scrim" data-target="fontScrim" aria-label="Text Resize">
      <svg class="shareSVG shareSVG--font" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 18.5 17.5"><path d="M18.2 17.2c-.7 0-.7-.2-1-1.4L14.5 4.2h-.2l-2.7 11.3c-.3 1-.4 1.5-.7 1.7h-.4c-1 0-1-.2-1.3-2L5.6 0h-.3L1.7 14.8C1.2 17 1.2 17 0 17.2v.4h4v-.4h-.4c-1.6 0-1.6-.3-1-2.6L3 12h3.2l.8 3.4c.3 1.4.4 1.6-1 1.7h-.4v.5H13v-.3H13c-1.3 0-1.3-.2-1-2l.4-1.4H15l.5 2c.2 1.2.3 1.4-.8 1.4h-.3v.3h4v-.3h-.2zm-15-6l1.5-6 1.3 6H3.3zm9.4 1.7l1-4.8L15 13h-2.2z"/></svg>
    </span>
  </li>


  <li class="shareMenu__item sharePopup__wrap hide4 hide8">
    <input type="checkbox" class="sharePopup__toggle" id="shareMenuSavePopupSB10923262037848103432104583233793531220244" data-sharemenu-action="popup">
    <label for="shareMenuSavePopupSB10923262037848103432104583233793531220244" class="shareIcon shareIcon--save">
      <svg class="shareSVG shareSVG--save" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 18.4 17.5"><path d="M3.5 17.5l1-6.3L0 6.7l6.4-1L9.2 0 12 5.8l6.4 1-4.6 4.4 1 6.3-5.6-3"/></svg>
    </label>
    <div class="sharePopup sharePopup--save">
      <h6 class="shareLabel">Save Article</h6>
      <a href="https://web.archive.org/web/20170724001902/https://accounts.wsj.com/login?target=http%3A%2F%2Fwww.wsj.com%2Farticles%2Fnestle-plans-20-8-billion-share-buyback-over-the-next-3-years-1498581756" class="shareLink" rel="nofollow">Sign In to Save</a>
      <a href="https://web.archive.org/web/20170724001902/https://subscribe.wsj.com/default" class="shareLink">Subscribe to WSJ</a>
    </div>
  </li>

   <li class="shareMenu__item hide12 hide16">
     <span class="shareIcon" data-sharemenu-action="scrim" data-target="shareScrim">
       <svg class="shareSVG shareSVG--more" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 21 5"><circle cx="10.5" cy="2.5" r="2.5" fill-rule="evenodd" clip-rule="evenodd"/><path d="M16 3c.3 1.2 1.3 2 2.5 2C20 5 21 4 21 2.5 21 1 20 0 18.5 0S16 1 16 2.5V3z" fill-rule="evenodd" clip-rule="evenodd"/><circle cx="2.5" cy="2.5" r="2.5" fill-rule="evenodd" clip-rule="evenodd"/></svg>
     </span>
   </li>
   <li class="shareMenu__item hide4 hide8">
     <a href="https://web.archive.org/web/20170724001902/https://www.wsj.com/articles/nestle-plans-20-8-billion-share-buyback-over-the-next-3-years-1498581756" class="shareIcon" data-sharemenu-action="link" data-sharemenu-wait-for-init="true" data-sharemenu-sync="link" data-sharemenu-track="permalink" aria-label="Copy link">
       <svg class="shareSVG shareSVG--link" viewbox="0 0 19 19" xmlns="http://www.w3.org/2000/svg"><path d="M2 13.7l1.3-1.3-.7-.6a1 1 0 0 1 0-1.3l7.8-7.7a1 1 0 0 1 .6-.3c.2 0 .5 0 .6.3l.7.6L13.6 2l-.7-.5c-1-1-3-1-4 0L1.5 9.2a2.7 2.7 0 0 0 0 3.8l.6.7zm16-7l-.6-.7L16 7.3l.8.6a1 1 0 0 1 0 1.2L9 17A1 1 0 0 1 8 17l-.7-.7-1 1.2.5.7c.5.5 1.2.8 2 .8.7 0 1.3-.3 2-.8l7.6-7.7a2.7 2.7 0 0 0 1-2c0-.7-.4-1.4-1-2m-1.2-5L18 2.8l-6.4 6.4L10.4 8zm-9 9L9 11.8l-6.4 6.4L1.4 17z"/></svg>
     </a>
   </li>

</menu>
<!-- end share menu -->

  <!-- font controls -->
  <div class="shareScrim shareScrim--partial" id="fontScrim" aria-label="Font Size - press Esc to close">
    <span class="shareIcon shareIcon--clear shareScrim__close" data-sharemenu-action="partial-scrim" data-target="fontScrim" aria-label="close">
      <svg class="shareSVG shareSVG--close" id="Layer_1" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 21.9 22"><polygon id="XMLID_4_" points="12.2,11 12.2,10.9 21.9,1.2 20.7,0 10.9,9.7 1.2,0 0,1.2 9.7,10.9 9.7,11 9.7,11.1
    0,20.8 1.2,22 10.9,12.3 20.7,22 21.9,20.8 12.2,11.1 "/></svg>
  </span>
    <div class="shareScrim__content fontButtons">
      <span class="shareLabel2">Text Size</span>
  
      <input class="fontButtons__input fontButtons__input--scrim" type="radio" name="fontsize-scrim" value="regular" data-sharemenu-action="fontsize" data-sharemenu-sync="fontsizeregular" data-sharemenu-track="resize" id="fontsize-scrim-regular">
      <label class="fontButtons__label fontButtons__label--scrim" for="fontsize-scrim-regular">
        <div class="fontButton fontButton--small"><svg class="shareSVG shareSVG--fontButton" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 19 25"><path d="M5.406 16.565L4.25 20.8c-.7 2.52-.664 3.15 1.47 3.255l.77.035V25H.54v-.91c1.436-.175 1.68-.385 2.416-2.975L8.8.325h.7l6.3 21.455c.526 1.715.666 2.1 1.89 2.24l.596.07V25h-8.96v-.91l.595-.035c2.73-.175 2.416-.595 1.89-2.485l-1.4-5.005H5.407zm4.725-1.05l-2.24-7.98-2.204 7.98h4.445z"/></svg>
</div>
        Small
      </label>
  
      <input class="fontButtons__input fontButtons__input--scrim" type="radio" name="fontsize-scrim" value="medium" data-sharemenu-action="fontsize" data-sharemenu-sync="fontsizemedium" data-sharemenu-track="resize" id="fontsize-scrim-medium">
      <label class="fontButtons__label fontButtons__label--scrim" for="fontsize-scrim-medium">
        <div class="fontButton fontButton--medium"><svg class="shareSVG shareSVG--fontButton" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 19 25"><path d="M5.406 16.565L4.25 20.8c-.7 2.52-.664 3.15 1.47 3.255l.77.035V25H.54v-.91c1.436-.175 1.68-.385 2.416-2.975L8.8.325h.7l6.3 21.455c.526 1.715.666 2.1 1.89 2.24l.596.07V25h-8.96v-.91l.595-.035c2.73-.175 2.416-.595 1.89-2.485l-1.4-5.005H5.407zm4.725-1.05l-2.24-7.98-2.204 7.98h4.445z"/></svg>
</div>
        Medium
      </label>
  
      <input class="fontButtons__input fontButtons__input--scrim" type="radio" name="fontsize-scrim" value="large" data-sharemenu-action="fontsize" data-sharemenu-sync="fontsizelarge" data-sharemenu-track="resize" id="fontsize-scrim-large">
      <label class="fontButtons__label fontButtons__label--scrim" for="fontsize-scrim-large">
        <div class="fontButton fontButton--large"><svg class="shareSVG shareSVG--fontButton" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 19 25"><path d="M5.406 16.565L4.25 20.8c-.7 2.52-.664 3.15 1.47 3.255l.77.035V25H.54v-.91c1.436-.175 1.68-.385 2.416-2.975L8.8.325h.7l6.3 21.455c.526 1.715.666 2.1 1.89 2.24l.596.07V25h-8.96v-.91l.595-.035c2.73-.175 2.416-.595 1.89-2.485l-1.4-5.005H5.407zm4.725-1.05l-2.24-7.98-2.204 7.98h4.445z"/></svg>
</div>
        Large
      </label>
    </div>
  </div>
  <!-- end font controls -->

  
  
  
  
  
  
  <!-- scrim share menu -->
  <div class="shareScrim" id="shareScrim" aria-label="Share Menu - press Esc to close">
    <div class="shareScrim__content">
      <menu class="shareScrim__itemlist">
        <li class="shareScrim__item">
          <a href="#print" class="shareButton" data-sharemenu-action="print" data-sharemenu-track="print" title="Print">
            <span class="shareIcon shareIcon--clear">
              <svg class="shareSVG shareSVG--print" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 20 17.6"><path d="M-711-3365v4612H969v-4612H-711zM25 22.6H-5V-5h30v27.6z" fill="none"/><path d="M2.3 14.6h1v3h13.4v-3h1c1.3 0 2.3-1 2.3-2V9c0-1-1-2-2.2-2h-1V3.8l-4-3.8H3.4v7h-1C1 7 0 8 0 9v3.4c0 1.2 1 2.2 2.3 2.2zM12.5.6L16 4.2h-3.5V.8zM4 .7h8.2v4H16V7H4V.7zm0 14h12V17H4v-2.4z"/></svg>
          </span>
            Print
          </a>
        </li>
      <li class="shareScrim__item">
          <a href="https://web.archive.org/web/20170724001902/https://www.facebook.com/sharer/sharer.php?u=https://www.wsj.com/articles/nestle-plans-20-8-billion-share-buyback-over-the-next-3-years-1498581756" data-sharemenu-action="clickthrough" data-sharemenu-track="facebook" class="shareButton shareButton--facebook" target="_blank" rel="nofollow">
            <span class="shareIcon shareIcon--clear">
              <svg class="shareSVG shareSVG--facebook" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 10.5 22.5"><path d="M10 11.3H7v11.2H2V11.3H0v-4h2.2V4.7C2.2 3 3.2 0 7 0h3.5v4H8c-.5 0-1 0-1 1v2.3h3.5l-.4 4z"/></svg>
          </span>
            Facebook
          </a>
        </li>
        <li class="shareScrim__item">
          <a href="https://web.archive.org/web/20170724001902/https://twitter.com/intent/tweet?text=Nestl%C3%A9%20plans%20share%20buyback%20after%20pressure%20from%20Third%20Point&url=https://www.wsj.com/articles/nestle-plans-20-8-billion-share-buyback-over-the-next-3-years-1498581756&via=WSJ" class="shareButton shareButton--twitter" data-sharemenu-action="clickthrough" data-sharemenu-track="twitter" target="_blank" rel="nofollow">
            <span class="shareIcon shareIcon--clear">
              <svg class="shareSVG shareSVG--twitter" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 21.1 17.4"><path d="M19 4.3V5c0 5.7-4.4 12.4-12.4 12.4-2.4 0-4.7-.7-6.6-2h1c2 0 4-.6 5.4-1.8-2 0-3.5-1.3-4-3h1.8C2.3 10 1 8.2 1 6c.6.2 1.2.4 2 .4-1.2-.7-2-2-2-3.6 0-.8.3-1.6.7-2.2 2 2.7 5.3 4.4 9 4.6-.2-.3-.2-.7-.2-1 0-2.4 2-4.4 4.3-4.4 1.2 0 2.4.5 3 1.4 1-.2 2-.6 2.8-1-.3 1-1 1.8-2 2.3 1 0 1.8-.3 2.6-.7-.5 1-1.3 1.7-2 2.3"/></svg>
          </span>
            Twitter
          </a>
        </li>
        <li class="shareScrim__item">
          <a href="https://web.archive.org/web/20170724001902/whatsapp://send/?text=https://www.wsj.com/articles/nestle-plans-20-8-billion-share-buyback-over-the-next-3-years-1498581756" class="shareButton shareButton--whatsapp" data-sharemenu-track="whatsapp" rel="nofollow">
            <span class="shareIcon shareIcon--clear">
              <svg class="shareSVG shareSVG--whatsapp" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 20.3 20.4"><path d="M14.8 12.2c-.3 0-1.5-.7-1.7-.8h-.5l-.8 1c0 .3-.3.3-.5.2-.3 0-1-.4-2-1.3-.8-.7-1.3-1.5-1.4-1.7V9l.5-.3.3-.4V8l-1-2c0-.6-.4-.6-.5-.6h-.4c-.2 0-.4 0-.7.3-.3.3-1 1-1 2.2 0 1 1 2.3 1 2.5.2.2 2 2.7 4.4 3.8l1.4.5c.6.2 1.2.2 1.6 0 .5 0 1.5-.5 1.7-1 .3-.7.3-1.2.2-1.3l-.4-.3"/><path class="st0" d="M10.2 18.5c-1.5 0-3-.4-4.3-1.2l-.4-.2-3.2 1 .8-3-.2-.4c-.8-1.3-1.3-3-1.3-4.5 0-4.5 3.8-8.3 8.4-8.3 2.3 0 4.4 1 6 2.5 1.6 1.6 2.5 3.7 2.5 6 0 4.5-3.7 8.3-8.3 8.3m7-15.5c-1.8-2-4.3-3-7-3C4.6 0 .2 4.5.2 10c0 2 .4 3.6 1.2 5L0 20.5 5.4 19c1.5.8 3 1.2 4.8 1.2 5.6 0 10-4.5 10-10 0-2.8-1-5.3-3-7.2"/></svg>
          </span>
            WhatsApp
          </a>
        </li>
  
        <li class="shareScrim__item">
          <a href="https://web.archive.org/web/20170724001902/sms:/?&body=https://www.wsj.com/articles/nestle-plans-20-8-billion-share-buyback-over-the-next-3-years-1498581756" class="shareButton" data-sharemenu-track="sms">
            <span class="shareIcon shareIcon--clear">
              <svg class="shareSVG shareSVG--sms" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 13 21"><path d="M10.717.84h-8c-1.103 0-2 .897-2 2v16c0 1.104.897 2 2 2h8c1.103 0 2-.896 2-2v-16c0-1.104-.897-2-2-2zm-8 4h8v-2h-8v2zm0 10h8v-8h-8v8zm0 4h8v-2h-8v2z" fill-rule="evenodd"></path></svg>
          </span>
            SMS
          </a>
        </li>
  
  
        <li class="shareScrim__item">
          <a href="https://web.archive.org/web/20170724001902/https://www.wsj.com/articles/nestle-plans-20-8-billion-share-buyback-over-the-next-3-years-1498581756" class="shareButton" data-sharemenu-action="link" data-sharemenu-wait-for-init="true" data-sharemenu-sync="link" data-sharemenu-track="permalink">
            <span class="shareIcon shareIcon--clear">
              <svg class="shareSVG shareSVG--link" viewbox="0 0 19 19" xmlns="http://www.w3.org/2000/svg"><path d="M2 13.7l1.3-1.3-.7-.6a1 1 0 0 1 0-1.3l7.8-7.7a1 1 0 0 1 .6-.3c.2 0 .5 0 .6.3l.7.6L13.6 2l-.7-.5c-1-1-3-1-4 0L1.5 9.2a2.7 2.7 0 0 0 0 3.8l.6.7zm16-7l-.6-.7L16 7.3l.8.6a1 1 0 0 1 0 1.2L9 17A1 1 0 0 1 8 17l-.7-.7-1 1.2.5.7c.5.5 1.2.8 2 .8.7 0 1.3-.3 2-.8l7.6-7.7a2.7 2.7 0 0 0 1-2c0-.7-.4-1.4-1-2m-1.2-5L18 2.8l-6.4 6.4L10.4 8zm-9 9L9 11.8l-6.4 6.4L1.4 17z"/></svg>
          </span>
            Copy Link
          </a>
        </li>
  
      </menu>
  
      <span class="shareIcon shareIcon--clear shareScrim__close" data-sharemenu-action="close" data-target="shareScrim" aria-label="close">
        <svg class="shareSVG shareSVG--close" id="Layer_1" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 21.9 22"><polygon id="XMLID_4_" points="12.2,11 12.2,10.9 21.9,1.2 20.7,0 10.9,9.7 1.2,0 0,1.2 9.7,10.9 9.7,11 9.7,11.1
      0,20.8 1.2,22 10.9,12.3 20.7,22 21.9,20.8 12.2,11.1 "/></svg>
    </span>
  
    </div>
  
  </div>
  <!-- end scrim share menu -->