GantNews, a CNN News Affiliate, on July 12 reported that Susquehanna Financial Group analyst Pablo Zuanic earlier this week suggested that another bid by Kraft Heinz for Unilever (LON:ULVR) “is now more than 75% likely”. Furthermore, this second attempt by Kraft Heinz to acquire Unilever could come as early as August 19.
Unilever, which is co-headquartered in the U.K., is subject to the British law that says six months must pass before a company can try to make another offer for a firm it previously tried to acquire. Kraft Heinz and Unilever jointly announced on February 19 that Kraft Heinz agreed to “amicably” withdraw its bid. Therefore, Kraft Heinz could return with another bid as early as August 19. Supporting this conjecture is the fact that Kraft Heinz has not made any attempt to buy another food company in the ensuing five months since February 19.
Unilever may have left its door open on a subsequent deal after Kraft Heinz withdrew its bid by stating “Unilever and Kraft Heinz hold each other in high regard” and that “Kraft Heinz has the utmost respect for the culture, strategy and leadership of Unilever”.
Since Unilever’s shares have risen about 30% since receiving Kraft Heinz’s bid, the original offer of $143 billion may now have to be increased to about $200 billion for it to receive serious consideration. Kraft Heinz is partly owned by 3G Capital Partners and Warren Buffett’s Berkshire Hathaway (NYSE:BRKa).
The Canadian dollar has posted modest gains this week against the greenback, and continues to move higher in the Friday session. Currently, USD/CAD is trading at 1.2772, down 0.21%...
Brown-Forman Corporation BF.B has been riding on its strategic initiatives, solid brand strength, sturdy second-quarter fiscal 2018 results and raised outlook for the full fiscal. ...
Add a Comment
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.