Activist hedge fund Trian Fund Management takes a stake in Unilever

Trian Fund Management LP, the activist hedge fund run by Nelson Peltz, has a stake in the Unilever PLC NYSE: UL the Financial Times reports, citing people with direct knowledge of the matter.

The $8.5 billion New York-based hedge fund has taken a position in shares of the British multinational consumer goods company.

Unilever offered $68 billion for GlaxoSmithKline plc NYSE: GSK earlier this month, but GSK rejected the offer because it was too low.

Unilever has faced strong opposition from investors to its plan to buy the GSK healthcare business.

Analysts said the proposed mega-deal, which would have been one of the largest ever on the London market, had been unexpected and raised questions about Unilever's plan for a more gradual shift from lower-margin goods to health, beauty, and hygiene products.

Unilever's shares have been under pressure in recent months as it has struggled to boost volumes.

Peltz said the stake building could benefit unilever shares when the stock markets open on Monday.

Peltz was on Friday at $49.31, a board of Procter Gamble Co NYSE: PG Unilever before buying a stake and focusing on Unilever.