The corporate world is heating up as companies look to acquire each other amidst skyrocketing cocoa and coffee prices, which Mondelez International is using to fuel its merger plans. The Hershey Trust Co., a 80% stakeholder in The Hershey Co., rejected Mondelez’s preliminary bid, citing it was “too low,” but analysts see the US confectionery giant as an attractive target.
In related news, Nippon Life Insurance has made a $8.2 billion all-cash acquisition offer for Resolution Life Group Holdings, its largest overseas deal this year. Dow is selling 40% of its U.S. Gulf Coast infrastructure assets to Macquarie Asset Management for $2.4 billion. Meanwhile, Novolex has sealed the deal to acquire Pactiv Evergreen for $3.22 billion.
Other sectors are also seeing activity, with Dutch Bros and Walgreens being targeted for acquisitions. Fitch Ratings identified ample dry powder in several sectors, including construction, aerospace, gaming, leisure, healthcare, banking, and tech. Analysts expect mid-size firms with market caps between $5 and $12 billion to attract suitors in 2025.
Investment banks are exploring strategic alternatives for Intevac, Inc., which has undergone a makeover after restructuring woes. The company’s forecasted EBITDA is looking healthier, and Houlihan Lokey is seeking potential buyers.
Source: https://www.benzinga.com/ma/24/12/42496403/deal-dispatch-hershey-monelez-houlihan-intevac-onion-infowars