BMI Sees Nestlé As Moving Closer To L'Oreal Bid

French cosmetics group L'Oreal has posted a 10.2% year-on-year rise in sales for the first half of 2010, including a 6.6% increase in like-for-like sales. The strong growth come at the same time as the company's largest shareholder, heiress Liliane Bettencourt, is subject to an investigation after allegations of tax evasion and illegal political donations. Since the scandal erupted, L'Oreal's share price has in risen, outpacing the CAC-40 Index of leading French companies by 16% so far in 2010. BMI's sees this as a sign that the business is increasingly being regarded as a potential takeover target and, in contrast

To read the full article, please choose one of the following options: