Mondelez (MDLZ)/PepsiCo (PEP) Deal Not Likely - Jefferies

July 18, 2013 9:10 AM EDT
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Price: $44.90 +0.67%

Rating Summary:
    13 Buy, 7 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Jefferies analyst Thilo Wrede commented on Mondelez International (NASDAQ: MDLZ) Thursday after Nelson Peltz proposed PepsiCo (NYSE: PEP) buy Mondelez for $35-$38 per share, followed by the separation of the combined companies' snack business.

Wrede is skeptical that such a deal will take place. He said even though it appears accretive on paper, it does not seem to fit with the strategic priorities for PEP and appears not to be aligned with the longer term plans for MDLZ.

The firm remains cautious on Mondelez and maintained a Hold rating and price target of $31 on the stock.

For an analyst ratings summary and ratings history on Mondelez International click here. For more ratings news on Mondelez International click here.

Shares of Mondelez International closed at $30.50 yesterday.

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