Mondelēz International, Inc.NASDAQ
Tue, Nov. 8, 2:58 PM
- Food stocks are getting gobbled after a report circulates indicating that 3G is prepping for another acquisition.
- Sources tell Brazil Journal that 3G is raising between $8B and $10B for the new deal.
- Gainers on the day include Mondelez International (MDLZ +4%), G. Will Food-International <<WILC,>> Kraft Heinz (KHC +2.8%), Pilgrim's Pride (PPC +2.9%), Lifeway Foods (LWAY +1.2%), Pinnacle Foods (PF +0.8%), Tyson Foods (TSN +1.4%), Seneca Foods (SENEB), Campbell Soup (CPB +3.6%), General Mills (GIS +3%), Kellogg (K +2.8%), Flower Foods (FLO +1.4%) and J.M. Smucker (SJM +1.1%).
- The PowerShares Dynamic Foods & Beverage ETF (NYSEARCA:PBJ) is up 1.93% on the day.
Mon, Aug. 29, 4:15 PM
- Mondelez International (NASDAQ:MDLZ) announces it has ended discussions with Hershey (NYSE:HSY) regarding a potential merger after factoring in recent shareholder developments at the candy company.
- “We remain focused on successfully executing our strategy to deliver both sustainable top-line growth and significant margin expansion and are well-positioned to continue to deliver value to our shareholders,” says CEO Irene Rosenfeld.
- Shares of Hershey are down 9.8% AH. MDLZ is inactive.
- Source: Press Release
Mon, Jul. 4, 6:02 AM
- While Hershey's (NYSE:HSY) board of directors unanimously rejected Mondelez's (NASDAQ:MDLZ) $23B bid on Thursday, its once impenetrable defenses are now looking weaker, Reuters reports.
- The Hershey Trust (which holds 81% of the company's voting stock) is under investigation and the Pennsylvania AG's office (which has say in any change in Hershey's ownership) is probing how much it spends and how long its directors have served for.
- Given the upheaval at the trust and the potential for three new board members, some analysts feel there is a chance the trust could be more open to a sale of the confectioner in the future.
Thu, Jun. 30, 2:31 PM
- Hershey (NYSE:HSY) says it has rejected the takeover bid from Mondelez (NASDAQ:MDLZ), with a unanimous vote.
- The company said it got a nonbinding indication of interest for a cash-and-stock deal totaling $107/share of Hershey common stock, along with nonmonetary considerations.
- Hershey says it carefully reviewed the indication of interest, the board uninamously rejected it, and that it determined it provided "no basis for further discussion between Mondelez and the company."
- Shares of Hershey still halted. MDLZ is up 4.2%.
- Updated 2:37 p.m.: Hershey has resumed trading, down slightly from its all-time high of $117.79 set earlier but still up 13.5% on the day.
- Previously: Hershey rises 19% on report of blockbuster buyout offer from Mondelez (Jun. 30 2016)
- Previously: Hershey jumps 7.6% on report of takeout bid by Mondelez (Jun. 30 2016)
Thu, Jun. 30, 10:54 AM
- Hershey (NYSE:HSY) is now up 19.4% after reports of a buyout offer by food giant Mondelez (MDLZ +1.8%).
- Terms of a deal aren't known, but Hershey is worth $21B and Mondelez nearly $70B, and the combination would unite a well-known American candy brand with the maker of Cadbury chocolates.
- Any deal depends on the approval of the Hershey Trust (holders of 81% of its votes), which has opposed selling in the past.
- Mondelez is trying to make a compelling case, though, promising to relocate its chocolate HQ to Hershey, Pa., and rename itself Hershey.
- Updated 12:29 p.m.: Hershey shares halted again for news.
Thu, Jun. 30, 10:36 AM
- Mondelez (NASDAQ:MDLZ), the food giant that had been carved out of Kraft Foods, has made a takeover bid for Hershey (NYSE:HSY), The Wall Street Journal reports.
- Hershey shares are up 7.6% in response.
- MDLZ is up 1.4% today.
- Updated 10:39 a.m.: Coming off a halt, Hershey is now up 17.5% to $114.09.
- Updated 10:45 a.m.: Hershey halted again, up 21.3%.
- Developing story ...
Thu, Mar. 3, 9:14 AM
- JAB Holding completes its acquisition of Keurig Green Mountain (NASDAQ:GMCR).
- The transaction brings Keurig under the same corporate umbrella as Caribou Coffee, Peet's Coffee & Tea, Jacobs Douwe Egberts, Bach Espresso, Bravo, Einstein Noah Restaurant Group, and Espresso House.
- By swallowing up Keurig, JAB has raised the stakes in its battle with Starbucks (NASDAQ:SBUX), Mondelez International (NASDAQ:MDLZ), Nestle (OTCPK:NSRGY), and JM Smucker (NYSE:SJM) for coffee dominance. For now, Starbucks plans to stick with its Keurig partnership, although on the last SBUX earnings call Howard Schultz called the future of the relationship unresolved (earnings call transcript). The other companies will also have to shift strategy to the new coffee matrix.
- JAB is a privately-owned company with power divided up between the children of Albert Reimann.
Nov. 11, 2015, 3:30 PM
Aug. 19, 2015, 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.
- Related stocks: KHC, MDLZ, PEP, KO, OTCPK:NSRGY, OTCPK:NSRGF, WWAV, HAIN, K, GIS, POST, CPB, PF, THS.
Jul. 2, 2015, 1:30 PM
- Mondelez (MDLZ -0.6%) is in talks with multiple potential buyers to sell its Carte Noire French coffee brand, and thus placate European antitrust regulators following its deal with D.E. Master Blenders (DEMB) to create Jacobs Douwe Egberts, the world's biggest coffee company.
- The EC approved the Jacobs Douwe deal on the condition Mondelez unload Carte Noire, and DEMB sell its Merrild coffee unit. Italy's Lavazza struck a deal to buy Merrilld last month.
- Reuters states Carte Noire is valued around €1B ($1.11B). Mondelez received $4.21B in cash and a 44% JV stake in the Jacobs Douwe deal.
May 5, 2015, 6:52 AM
- Mondelez International (NASDAQ:MDLZ) and D.E. Master Blenders (OTC:DEMBF) land conditional approval from the European Commission on their proposed merger after agreeing to divest a few brands in certain regions.
- The newly-created Jacobs Douwe Egberts is expected to strike revenue of more than €5B ($5.56B).
- Pierre Laubies will be the pure play coffee company's CEO.
Apr. 24, 2015, 7:00 AM
- Apollo Global Management (NYSE:APO) and Dean Matropoulus are looking to sell Hostess after only holding the brand for about two years, according to the New York Post.
- Sources indicate at least one buyer is willing to pay the $2B price tag.
- Hostess was sold out of bankruptcy for $410M and now operates under a more cost-efficient structure.
- Analysts think Hostess could be grown to a billion-dollar brand.
- Snack rivals includes Mondelez International (NASDAQ:MDLZ), Hershey (NYSE:HSY), Flower Foods (NYSE:FLO), and Grupo Bimbo (OTCPK:GRBMF).
Mar. 24, 2015, 9:34 PM
- Kraft (NASDAQ:KRFT) finished AH trading at $71.44 following a WSJ report stating the company is in talks to sell itself to P-E firm 3G Capital. Mondelez (NASDAQ:MDLZ) rose 3.3% to $36.18, and ConAgra (NYSE:CAG) rose 1.9% to $35.27.
- The WSJ has added more details. Sources state a deal could be announced soon, and that 3G would use previously-acquired Heinz to make the purchase. It now calls buyout talks "advanced," and highlights 3G's track record of aggressively cutting costs at consumer companies it has acquired.
- The paper speculates Kraft "could be valued at well over $40 billion," given typical M&A premiums. The food/beverage giant closed AH with a $42.6B market cap.
Mar. 2, 2015, 7:54 AM
- RBC Capital Markets thinks Mondelez International (NASDAQ:MDLZ), Kellogg (NYSE:K), or Kraft Foods (NASDAQ:KRFT) would make a logical acquisition for Berkshire Hathaway after reading Warren Buffett's annual shareholder letter.
- Buffett was very active in the food sector previously as a backer of 3G in the acquisitions of Heinz and in the Tim Hortons-Burger King combination.
- Previously: Buffett, Munger talk succession and more in annual letters (Feb. 28 2015)
- Previously: Buffett talks to CNBC after annual letter
Feb. 27, 2015, 9:31 AM
- Mondelez International (NASDAQ:MDLZ) sells its 50% interest in Ajinomoto General Foods to JV partner Ajinomoto Co.
- The company says it will receive ¥27B ($226.2M) in pre-tax proceeds at closing.
May 7, 2014, 7:10 AM
- Mondelez International (MDLZ) says it will form a new coffee company with D.E. Master Blenders.
- The new company, Jacobs Douwe Egberts, is forecast to have revenue of over $7B and an EBITDA margin in the high teens.
- Mondelez will have a 49% interest in Jacobs Douwe Egberts after the transaction closes.