bhp è tornata profittevole e ha più che raddoppiato il dividendo, prima tagliato di brutto (a dimostrazione che vendere a prescindere dopo un taglio, come quel blogger di dividend growth investing, è molto meno intelligente che comprare
)
su unilever (che un po' avrebbe avuto bisogno di una cura come quella dei tipi di 3G
):
Failed $143 Billion Deal Raises Pressure on Unilever, Kraft - WSJ
Deal talks between Kraft Heinz Co. and Unilever PLC are dead, but both consumer-goods giants now find themselves under heightened pressure to make bold moves to accelerate growth. Unilever shares fell 6.6% in London Monday after Kraft Heinz dropped its $143 billion bid for its rival—partly reversing a 13% jump on Friday, when the offer became public.
Unilever made clear it didn’t want to pursue a tie-up, but investors in recent years have encouraged the Anglo-Dutch maker of Ben & Jerry’s ice cream, Dove soap and Axe deodorant to sell underperforming businesses or do a large acquisition to boost its shareholder returns, which have lagged behind other European home and personal-care companies. Chief Executive Paul Polman has so far danced to his own tune. “It’s a wake-up call for Unilever and they need to respond,” Société Générale analyst Warren Ackerman said of the short-lived offer. Unilever declined to comment.
Kraft Heinz, meanwhile, has significantly improved its profitability since the 2015 deal that created the company, driven by the aggressive cost-cutting methods of Brazilian private-equity firm 3G Capital, its biggest shareholder. But it is now running out of costs to cut, leaving investors hungry for another deal.
Kraft Heinz shares soared by 11% on Friday, as shareholders cheered the prospect of a new acquisition. U.S. markets were closed on Monday in observance of Presidents Day. Barclays analyst Andrew Lazar said the offer served “as a reminder of Kraft Heinz’s interest, capacity and commitment to pursuing large-scale M&A in a potentially near-term time horizon.”
3G, which has raised at least $10 billion in new funds, declined to comment.
Analysts and investors expect Mondelez International Inc. to be a likely takeover target for Kraft Heinz, because it was part of Kraft before their 2012 breakup and has a strong presence in emerging markets where Kraft Heinz wants to expand. A Mondelez spokeswoman said “we don’t comment on market rumors or speculation.”
Kraft Heinz said buying rivals isn’t the only way for it to produce strong returns. Chief Financial Officer Paulo Basilio, also a partner at 3G, said Wednesday that the company has decided to make additional investments in food-quality improvement and developing new products to boost sales. “We don’t need another acquisition to drive value,” Mr. Basilio said.
