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Danone May Be Takeover Target

August 14, 2017: 12:00 AM EST
Danone’s U.S.-listed shares climbed seven percent on August 14, after Bloomberg reported that activist hedge fund Corvex Management had accumulated a $400 million stake in the French food company. One analyst suggested in a note to investors that Kraft Heinz and PepsiCo might be suitors. Corvex’s Keith Meister believes Danone shares are undervalued. Its stock slid 1.41 percent over the last year. There is no talk yet, however, of a proxy battle or management shake-ups at the company, which produces yogurt, baby food, nutritional solutions, and bottle water.
Angelica LaVito, "Danone Shares Climb after Takeover Rumors, Activist Investor Interest", CNBC, August 14, 2017, © CNBC LLC
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