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Kellogg Company (K)

  • Wed, Oct. 28, 9:10 AM
    | Wed, Oct. 28, 9:10 AM | 5 Comments
  • Fri, Oct. 23, 8:17 AM
    • Kellogg (NYSE:K) is close to acquiring Diamond Foods (NASDAQ:DMND) for somewhere between $35 to $40 a share, sources tell New York Post.
    • Diamond Foods has been the auction block for most of the year.
    • DMND +13.49% premarket to $37.26.
    | Fri, Oct. 23, 8:17 AM | Comment!
  • Tue, Sep. 15, 9:41 AM
    • Kellogg (K -0.2%) announces it will spend $450M to acquire a 50% stake in African distributor Multipro.
    • The company also created a joint venture with Tolaram to develop snacks and breakfast foods to sell in West Africa. A right to acquire a stake in Tolaram Africa Foods is also now held by Kellogg in its back pocket.
    • Global cash and an increased in the issuance of commercial paper will be used to finance the investments in Kellogg's business in Africa.
    | Tue, Sep. 15, 9:41 AM | Comment!
  • Wed, Aug. 19, 11:38 AM
    • Large food companies need to focus on bold M&A and innovation actions over recharging iconic brands, concludes Rabobank in a new report on the sector.
    • A shift in consumer preferences has sparked a need to introduce new brands which are on trend - instead of focusing on "innovation-lite" and product reformulation strategies. Buying promising brands at an earlier stage than normal is seen as a forward-thinking strategy.
    | Wed, Aug. 19, 11:38 AM | 22 Comments
  • Mon, Mar. 2, 7:54 AM
    | Mon, Mar. 2, 7:54 AM | 8 Comments
  • Mon, Jan. 12, 3:23 AM
    • After private equity firm Abraaj pulled its offer for Bisco Misr on Dec. 31, the bidding period for the Egyptian biscuitmaker ended Sunday with Kellogg (NYSE:K) as the only suitor.
    • The bidding war between the two drove up the offer price by over 20%.
    • As of yesterday, shareholders controlling 86% of the company have agreed to sell their shares to Kellogg for a total of $125M.
    | Mon, Jan. 12, 3:23 AM | Comment!
  • Dec. 31, 2014, 2:59 AM
    • The UAE's Abraaj Investment Management is pulling out of a bidding war with Kellogg (NYSE:K) for the Egypt's Bisco Misr.
    • Abraaj did not give a reason for its withdrawal from the bidding process, but said the orderly and transparent process had underlined growing investor interest in Egypt.
    • Kellogg was the last to place a bid for the snack maker, offering 89.86 EGP per share - for a total purchase price of $144M.
    | Dec. 31, 2014, 2:59 AM | Comment!
  • Dec. 28, 2014, 11:01 AM
    • Egypt's financial regulator has extended the bidding period for Bisco Misr until Jan. 11, intensifying a $144M takeover battle between Kellogg (NYSE:K) and the UAE's Abraaj Investment Management.
    • Kellogg raised its bid for the Egyptian snack maker on Wednesday to 89.86 EGP per share following an earlier offer of 88.09 from Abraaj.
    • The battle has so far driven up the bid price by more than a fifth from Abraaj's opening gambit of 73.91 EGP/share.
    | Dec. 28, 2014, 11:01 AM | Comment!
  • Dec. 18, 2014, 4:35 AM
    • In the next bidding battle for Bisco Misr, Kellogg (NYSE:K) has raised its bid to 86.36 EGP per share, topping a rival offer from the UAE's Abraaj Investment Management, which increased its previous offer by 2%.
    • Previously: Bisco Misr bidding war continues (Nov. 30 2014)
    | Dec. 18, 2014, 4:35 AM | Comment!
  • Nov. 30, 2014, 9:23 AM
    • Intensifying a bidding war with the UAE's Abraaj Investment Management, Kellogg (NYSE:K) has raised its offer for Egyptian cake and biscuit maker Bisco Misr again.
    • The world's biggest breakfast cereal maker upped its bid to 82.2 EGP ($11.50) per share today, topping Abraaj's previous offer of 80.58 EGP ($11.27).
    • Earlier this month, Abraaj offered 73 EGP per share, which Kellogg countered last week with 79 EGP.
    • Previously: Bisco Misr bidding war heats up
    | Nov. 30, 2014, 9:23 AM | Comment!
  • Nov. 26, 2014, 9:44 AM
    • Abraaj has raised its bid for Bisco Misr to 80.58 EGP per share, announcing a $130M offer for the Egyptian cake and biscuit maker.
    • The UAE investment company's initial bid of 73 EGP per share earlier this month was topped this morning by Kellogg's (K -0.5%) offer of 79 EGP/share.
    • Previously: Kellogg makes offer for Egypt's Bisco Misr
    | Nov. 26, 2014, 9:44 AM | 1 Comment
  • Nov. 26, 2014, 6:40 AM
    | Nov. 26, 2014, 6:40 AM | 1 Comment
  • Nov. 20, 2014, 6:55 AM
    • Kellogg (NYSE:K) says it will make an offer for Bisco Misr after completing its due diligence process.
    • The Egyptian food maker already has an offer on the table from Abraaj Group at $119M.
    | Nov. 20, 2014, 6:55 AM | Comment!
  • Oct. 2, 2014, 6:55 PM
    • Kellogg (NYSE:K) CEO John A. Bryant is planning to meet in London with British snack/cookie maker United Biscuits about a ~£2B ($3.2B) acquisition, the WSJ reports.
    • At the same time, United is said to be prepping IPO documents, thus giving P-E owners Blackstone and PAI Partners a second exit strategy. Blackstone and PAI bought United for £1.6B in 2006.
    • United had 2013 sales of £1.1B, and claims a quarter of the British cookie market. However, growth has been weak in recent years.
    • K -0.4% AH.
    | Oct. 2, 2014, 6:55 PM | Comment!
  • Sep. 22, 2014, 3:00 PM
    • Kellogg (K -0.6%) is one of the first round bidders for United Biscuits, sources tell The Wall Street Journal.
    • The Ontario Teachers' Pension Plan and Turkish firm Ulker Biskuvi Sanayi AS were also involved in the bidding for the private equity-owned food company.
    • The offer prices for United Biscuits is reported to be in the neighborhood of $3.27B.
    | Sep. 22, 2014, 3:00 PM | 1 Comment
  • Aug. 6, 2014, 3:24 PM
    • Kellogg (K +2.5%) is considering an offer for United Biscuits in the £2B range ($3.37B), according to reports from the U.K.
    • Sources indicate the company is working with Barclays on how to structure an offer.
    • The acquisition could give Kellogg new growth channels.
    • United Biscuits is held by P-E firms Blackstone Group and PAI Partners.
    | Aug. 6, 2014, 3:24 PM | Comment!
Company Description
Kellogg Co and its subsidiaries are involved in the manufacture and marketing of ready-to-eat cereal and convenience foods.