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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Campbell shares soar on report Kraft is interested in buying the soup company

Campbell shares soar on report Kraft is interested in buying the soup company

Campbell Soup’s stock gained more than 9 percent Monday, following a report that Kraft Heinz is interested in buying the soup company. The story, which appeared in the New York Post, did not say whether Kraft Heinz had a hired a bank to explore such interest, a step that often precedes serious attempts at dealmaking. Campbell previously announced a strategic review in which it would leave “no sacred cows,” raising speculation the company could do…

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