Several analysts have released their opinion on The Kraft Heinz Company (NASDAQ:KHC), with 8 analysts believing it is a strong buy.
Unilever today has already rejected the proposal, but Kraft Heinz has signaled it plans to be persistent. It said Kraft-Heinz had made a bid which valued Unilever at USD50.00 per share in cash and shares.
Kraft Heinz has 42,000 employees in 40 countries, but its sales of $26.5 billion previous year were dwarfed by Unilever's $48.3 billion. But Unilever said the price "fundamentally undervalues" the company, and that it saw no basis for further talks.
Unilever, the Anglo-Dutch consumer giant behind Dove soap, Flora margarine and Marmite, has rebuffed a £143bn plus takeover approach from U.S. rival Kraft Heinz. Shares in Kraft Heinz, meanwhile, have jumped by more than 3% in pre-market trading in NY.
Kraft Heinz has a market cap of $114 billion, so any acquisition that is not in shares would require a substantial debt load. Kraft Heinz is not giving up however and will continue to negotiate, Reuters reports.
Their proposal represents a premium of 18% to Unilever's share price as at the close of business on 16 February 2017.
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Although the firm's shares benefited in the immediate aftermath of the Brexit vote, as anxious investors piled into defensive stocks, they began to taper after a pricing spat with Tesco.
Their latest joint bid is a logical progression from the 2015 mega-merger of Heinz and Kraft. In 2010, Kraft purchased United Kingdom chocolate company Cadbury.
Kraft's overture follows the worst annual performance of Unilever stock past year since the financial crisis in 2008. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.73 billion. The short ratio in the company's stock is documented at 4.28 and the short float is around of 0.95%.
A tie-up between Kraft Heinz and Unilever would bring together the fifth- and third-largest consumer food firms.
The Kraft Heinz Company (NASDAQ:KHC) shows its Return on Assets (ROA) value of 2.3 percent, while the Return on Equity (ROE) value is 4.8 percent and Return on Investment (ROI) value stands at 2.7 percent. On average, equities research analysts anticipate that The Kraft Heinz Company will post $3.24 earnings per share for the current year.