Sector News

Nestle reported to be among companies exploring Hain Celestial purchase

November 21, 2017
Food & Drink

Nestle is among the potential suitors exploring an acquisition of Hain Celestial, Bloomberg wrote earlier Monday.

The owner of Health Valley cereal and Terra chips has been working with Centerview Partners to explore a strategic review that could include a sale.

Nestle has had conversations about buying the company as a whole or in parts, Bloomberg said.

Hain’s strategic review comes after a fight with activist investor Engaged Capital that led to changes in its board.

Shares of Hain, which has a market capitalization of $4.3 billion, spiked 7 percent before being halted in afternoon trading. After resuming trade, Hain shares ended the day 2.6 percent higher at $40.89.

By Lauren Hirsch

Source: CNBC

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