Kraft Heinz CEO doesn’t want long-term M&A regrets amid Campbell Soup speculation

Kraft Heinz CEO doesn’t want long-term M&A regrets amid Campbell Soup speculation

Bernando Vierira Hees, CEO of Kraft Heinz, said during its second quarter earnings call about acquisitions, “And I think also important to say, we don’t do something to be happy for a quarter and then be regretting for the long-term, to be apologizing for the next couple of years.” Kraft Heinz passed on the chance to bid on Pinnacle Foods, sources told CNBC, which could signal that any potential interest in Campbell is waning. Hees…

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Kraft Heinz passed on Pinnacle Foods and that means it may not want to buy Campbell Soup

Kraft Heinz passed on Pinnacle Foods and that means it may not want to buy Campbell Soup

Kraft Heinz passed on the opportunity to bid on Pinnacle Foods in a recent sale of the company, sources tell CNBC. Kraft Heinz told Pinnacle Foods “such an acquisition would not be a good strategic fit … at the current valuation levels.” Its disinterest in Pinnacle may have implications for its potential interest in Campbell, should the soup giant put itself up for sale. Kraft Heinz recently passed on the opportunity to bid on Pinnacle…

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GrubHub surges after earnings report and LevelUp acquisition

GrubHub surges after earnings report and LevelUp acquisition

Shares of GrubHub soared more than 24 percent on Wednesday, following a strong second-quarter earnings report and the company’s announcement it would acquire mobile ordering and mobile payments platform LevelUp. The gains pushed GrubHub’s shares to an all-time high of $134.33 per share during regular trading on Tuesday. Shares of GrubHub soared more than 25 percent on Wednesday, following a strong second-quarter earnings report and the company’s announcement it would acquire mobile ordering and mobile…

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AT&T falls after missing on revenue in first results since Time Warner deal close

AT&T falls after missing on revenue in first results since Time Warner deal close

AT&T shares fell more than 2 percent after the telecom company reported mixed second quarter earnings and revenue. On the call, Stephenson and fellow executives discussed their strategic vision for combining AT&T and Time Warner, including increased investment in premium programming and direct to consumer products. AT&T shares fell more than 2 percent, before paring some of those losses, after the telecom company reported mixed second quarter earnings and revenue. Here’s how the company did…

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GlaxoSmithKline shares jump after report of possible break-up

GlaxoSmithKline shares jump after report of possible break-up

GlaxoSmithKline shares jumped 4 percent in intraday trading after a Financial Times report that the company’s chairman is considering splitting up the company. Philip Hampton has discussed creating a new company from its pharma and vaccines divisions, according to the FT report. Shares last reached this height on June 14 when the company announced positive results in studies that treated HIV with a two-drug regimen. Shares of GlaxoSmithKline jumped as much as 4 percent in…

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State Street shares fall most in 2 years after halting buyback to complete merger

State Street shares fall most in 2 years after halting buyback to complete merger

The financial services giant agreed to buy Charles River Development for $2.6 billion in an all-cash deal, which is expected to close in the fourth quarter of 2018. However, State Street also said it will suspend a $950 million share repurchase through the end of the year to help finance the transaction. State Street shares dropped 7 percent on Friday, on track for their worst day in two years, after the bank announced it will…

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After exiting battle for Fox, Comcast fires ‘warning shot’ to Disney over Sky takeover, analyst says

After exiting battle for Fox, Comcast fires ‘warning shot’ to Disney over Sky takeover, analyst says

The trans-continental bidding war between Comcast and Disney had become one of the most intriguing media battles for decades, given the sheer scale of money on the table and the two CEOs’ well-known contempt for one another. Comcast announced Thursday that it would drop out of the race to acquire Fox’s assets, paving the way for Disney to complete its takeover. “This is one day going to make a fantastic scripted drama in and of…

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Strike three: Comcast can add Fox to list of huge acquisitions it’s failed to close

Strike three: Comcast can add Fox to list of huge acquisitions it’s failed to close

Comcast CEO Brian Roberts is dropping his pursuit to buy Fox. Roberts has also withdrawn bids to buy Disney and Time Warner Cable. Roberts could still walk away with an M&A win if Comcast buys Sky — or he could add yet another swing and miss. Declaring failure on a huge telecommunications acquisition has become old hat for Comcast CEO Brian Roberts. Comcast on Thursday formally withdrew its bid for Fox to focus on buying…

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JAB-backed Krispy Kreme is nearing a deal to acquire Insomnia Cookies

JAB-backed Krispy Kreme is nearing a deal to acquire Insomnia Cookies

  Krispy Kreme Doughnut is nearing a deal to acquire Insomnia Cookies, sources tell CNBC. Investment firm JAB Holding acquired Krispy Kreme in 2016 for $1.35 billion. The deal would help Krispy Kreme expand beyond its iconic glazed doughnuts. Krispy Kreme Doughnut is nearing a deal to acquire Insomnia Cookies in a move that would help the coffee and doughnut chain move beyond the glazed treats for which it is known, sources familiar with the…

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A surprising bid for gun maker Remington, and an unsurprising rejection

A surprising bid for gun maker Remington, and an unsurprising rejection

The Navajo Nation made a cash offer for gun maker Remington, with the intention of pushing it toward “smart gun” technology. Navajo Nation is one of the largest Native American tribes in the country with more than 350,000 members and land holdings of more than 27,000 square miles in Arizona, New Mexico and Utah. The bid was rejected last week after Remington had delayed a formal reply for nearly two months, according to a memo…

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