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Feb. 17, 2017, 11:45 a.m. EST

Mondelez's stock slumps after Kraft's bid for Unilever reduces buyout odds

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By Tomi Kilgore

Shares of Mondelez International Inc. /quotes/zigman/11829567/composite MDLZ +0.26% shed 1.4% in midday trade, as Kraft Heinz Co.'s /quotes/zigman/54335842/composite KHC -0.06% bid to buy Unilever PLC /quotes/zigman/203077/composite UL -1.36% might reduce the likelihood that Mondelez gets acquired. Analyst Pablo Zuanic at Susquehanna said that although Unilever has rejected Kraft Heinz's bid, he believes "a deal to eventually happen." For now, Zuanic said the bid "should lower the probability of a bid for [Mondelez]," as the focus seems to be more on grocery than snacks. He said the bid should also pressure the stocks of a number of U.S.-heavy food companies, including General Mills Inc. /quotes/zigman/227548/composite GIS +0.09% , Campbell Soup Co. /quotes/zigman/221274/composite CPB +2.90% and Kellogg Co. /quotes/zigman/231157/composite K +0.12% . General Mills shares dropped 3.3% after cutting its sales outlook, Campbell's stock shed 6.7% after reporting disappointing quarterly sales and Kellogg's shares slumped 2.9%. Kraft's stock soared 7.6% and Unilever's U.S.-listed shares climbed 11%, while the S&P 500 /quotes/zigman/3870025/realtime SPX -0.26% eased 0.2%.

Read the full story:
Warren Buffett is $4 billion richer after Kraft Heinz’s merger bid for Unilever

/quotes/zigman/11829567/composite
US : U.S.: Nasdaq
$ 42.30
+0.11 +0.26%
Volume: 8.88M
Nov. 17, 2017 4:00p
P/E Ratio
29.38
Dividend Yield
2.08%
Market Cap
$63.05 billion
Rev. per Employee
$285,556
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/quotes/zigman/54335842/composite
US : U.S.: Nasdaq
$ 79.63
-0.05 -0.06%
Volume: 3.71M
Nov. 17, 2017 4:00p
P/E Ratio
24.81
Dividend Yield
3.14%
Market Cap
$97.09 billion
Rev. per Employee
$639,317
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/quotes/zigman/203077/composite
US : U.S.: NYSE
$ 55.00
-0.76 -1.36%
Volume: 997,413
Nov. 17, 2017 4:05p
P/E Ratio
24.75
Dividend Yield
3.07%
Market Cap
$68.92 billion
Rev. per Employee
$350,737
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/quotes/zigman/227548/composite
US : U.S.: NYSE
$ 53.72
+0.05 +0.09%
Volume: 4.25M
Nov. 17, 2017 4:00p
P/E Ratio
19.25
Dividend Yield
3.65%
Market Cap
$30.50 billion
Rev. per Employee
$407,397
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/quotes/zigman/221274/composite
US : U.S.: NYSE
$ 49.72
+1.40 +2.90%
Volume: 4.02M
Nov. 17, 2017 4:03p
P/E Ratio
17.20
Dividend Yield
2.82%
Market Cap
$14.52 billion
Rev. per Employee
$438,333
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/quotes/zigman/231157/composite
US : U.S.: NYSE
$ 65.36
+0.08 +0.12%
Volume: 4.44M
Nov. 17, 2017 4:00p
P/E Ratio
29.18
Dividend Yield
3.30%
Market Cap
$22.55 billion
Rev. per Employee
$342,985
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/quotes/zigman/3870025/realtime
US : S&P Base CME
2,578.85
-6.79 -0.26%
Volume: 2.09B
Nov. 17, 2017 4:52p
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