Credit Suisse analyst Robert Moskow and team consider whatMondelez International (MDLZ) would need to do in order to make a purchase of Hershey (HSY) a reality:
Widespread news reports that Mondelez made a $107/share bid for Hershey strikes us as a savvy and logical strategic move by the company to expand its global scale in the confectionery category and capture value through massive synergies. A transaction would create a combined entity with 19% market share of the global confectionery market and 21% of global chocolate. It also would give Mondelez full control of the Cadbury license in the U.S., which Hershey acquired from Rowntree in the 1980s. By making the bid public, Mondelez forces the Hershey Trust (which controls about 81% of the vote) to either accept the bid and violate its charter to maintain control of the business, or reject the bid and perhaps push Hershey management to present a more aggressive value creation plan of its own. At this point, it is close to impossible for us to opine on which way the Trust is leaning. The Trust also needs to factor in the political ramifications of selling the business, given th e fact that the Commonwealth of Pennsylvania blocked a proposed sale once before in 2002.
Hot Freight Stocks To Own For 2016: Take-Two Interactive Software, Inc.(TTWO)
Take-Two Interactive Software, Inc. develops, publishes, and markets interactive entertainment for consumers worldwide. The company offers its products under the Rockstar Games and 2K labels. It develops and publishes action/adventure products under the Grand Theft Auto, Max Payne, Midnight Club, and Red Dead names through developing sequels; offering downloadable episodes, and content and currency; and releasing titles for smartphones and tablets. The company also develops brands in other genres, including the L.A. Noire, Bully, and Manhunt franchises. In addition, it publishes various entertainment properties across platforms and a range of genres, including shooter, action, role-playing, strategy, sports, and family/casual entertainment under the BioShock, Mafia, Sid Meier’s Civilization, and XCOM Enemy Unknown series, as well as Borderlands and Evolve franchises; and various sports simulation titles, including its flagship NBA 2K series, a basketball video game and the WWE 2K series. The companys portfolio of brands also comprise Carnival Games, Rockstar Games Presents Table Tennis, Sid Meier’s Pirates!, Spec Ops, and Top Spin. Its products are designed for console gaming systems, such as Sony’s PlayStation 3 and PlayStation 4, and Microsoft’s Xbox 360 and Xbox One; handheld gaming systems; and personal computers comprising smartphones and tablets. The company delivers its products through physical retail, digital download, online platforms, and cloud streaming services. Take-Two Interactive Software, Inc. was founded in 1993 and is headquartered in New York, New York.
- [By Ahiza Garcia]
The suit against Take-Two Interactive (TTWO) is being brought by Solid Oak Sketches, a group that holds the rights to the tattoos.
Solid Oak Sketches obtained the rights from five tattoo artists by agreeing to pay royalties based on the use of the tattoos, according to the suit.
- [By Jon C. Ogg]
Take-Two Interactive Software Inc. (NASDAQ: TTWO) may not be seeing much ofa follow-on gain for its shares after the release of the notorious Grand Theft Auto 5. The reason is that shares had at one point almost doubled from the lows of the last year in anticipation. What is impressive, make that more than impressive,is that this video game launch set a record of $800 million at the launch day, and now its sales in just three days have crossed over the $1 billion mark in just three days.
Hot Freight Stocks To Own For 2016: Polycom Inc.(PLCM)
Polycom, Inc. provides communications equipment that enables businesses, telecommunications service providers, governmental and educational institutions, and healthcare customers to conduct video, voice, data, and Web communications. The company offers network infrastructure, including conferencing infrastructure, distributed media applications, management applications, recording and streaming security, and remote access for universal video collaboration; unified communications (UC) group systems, which include immersive telepresence, group video, and group voice systems that enable geographically dispersed individuals to communicate; UC personal devices comprising desktop video devices, desktop voice, and wireless local area network products that extend HD voice, video, and content to desktops, home offices, mobile users, and branch sites. It also provides various services, including assessments, implementation services, network consulting services, usage and adoption ser vices, wireless services application integration, and advanced project management services. The company sells its products through a network of channel partners, including distributors, value-added resellers, system integrators, communications services providers, and retailers in North America, Central America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. Polycom, Inc. was founded in 1990 and is headquartered in Pleasanton, California.
- [By Lisa Levin]
Polycom, Inc. (NASDAQ: PLCM) revealed Friday that private equity firm, Siris Capital Group, LLC and its affiliates, have submitted a unilaterally binding offer to buy all outstanding shares for $12.50 per share in cash.
5 Best Energy Stocks To Watch Right Now: Prestige Brand Holdings Inc.(PBH)
Prestige Brands Holdings, Inc., together with its subsidiaries, engages in marketing, selling, and distributing over-the-counter healthcare and household cleaning products primarily in North America. The company?s Over-The-Counter Healthcare segment offers a portfolio of OTC products under nine core OTC brands, including Chloraseptic sore throat remedies, Clear Eyes eye drops, Compound W wart removers, Dramamine motion sickness products, Efferdent and Effergrip denture products, Little Remedies pediatric healthcare products, Luden’s cough drops, PediaCare pediatric healthcare products, and The Doctor?s brand of oral care products. This segment also provides other significant brands that include Dermoplast first-aid products, Murine eye and ear care products, NasalCrom allergy relief product, New-Skin liquid bandage, and Wartner wart removers. Its Household Cleaning segment markets household cleaning products, such as abrasive and non-abrasive tub and tile cleaner, scrubb i ng pads and sponges, dilutables, anti-bacterial hard surface spray for counter tops, and glass cleaners under the Comet, Chore Boy, and Spic and Span brands. Prestige Brands Holdings distributes its products through various retail channels, including drug, food, dollar, and club stores, as well as supermarkets and mass merchandisers. The company was founded in 1996 and is headquartered in Irvington, New York.
- [By Ben Levisohn]
Castor believes the cash has disappeared into working capital, which has grown from 23% to more than 50% since 2008. Comparable company PrestigeBrand (PBH) uses 11%; Unilever(UL) and Colgate-Palmolive(CL) far less.