Post Expects Stronger Nutrition Business Value To Emerge On Its Own, Plans IPO
Planned IPO of 25% of shares in nutrition business targets unlocking value currently held down by Post's other units. Its competitors in cereal space as well as firms across broader food industry also may determine their acquired nutritional businesses could be higher valued operating separately.
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Businesses such as Post's "Active Nutrition" division not only help drive overall sales, they also represent opportunities to create new value. "You can see a rationale for a larger company trying to unlock value," says L.E.K analyst Alex Evans.
Firm's Hindustan Unilever division will merge with s GSK Consumer Healthcare India which has had total sales around €550m so far in 2018, primarily through the Horlicks and Boost brands and with nearly 90% of the revenues in India. Also will acquire 82% stake in GSK Bangladesh and other GSK commercial operations and assets outside India, paying €3.3bn in combination of cash and shares in Hindustan Unilever.
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