Del Monte (DLM) Spikes as Centerview Partners to Join KKR & Co. (KKR) in Bid
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Shares of Del Monte (NYSE: DLM) made a late-day move higher following reports that Centerview Partners would be joining KKR & Co. (NYSE: KKR) in a bid to acquire the company.
Late last week, reports surfaced that KKR was in talks to buy DLM, and a price of $18.50 per share was pinned on the deal, making for a total consideration of $3.6 billion.
Centerview, who is run by former Gillette CEO James Kilts, and buyout firm Vestar Capital Partners, will likely make smaller contributions than KKR in the bid.
Centerview last joined KRR following a group of private investors, led by KKR, in taking media researcher Nielsen private.
KKR was also the largest shareholder in Gillette when Kilts was the CEO.
Following the headline on Bloomberg, shares of Del Monte shot up 5.5% to a high of $18.27, though the stock gave a little back and ended 5.5% higher on the day at $17.99.
Late last week, reports surfaced that KKR was in talks to buy DLM, and a price of $18.50 per share was pinned on the deal, making for a total consideration of $3.6 billion.
Centerview, who is run by former Gillette CEO James Kilts, and buyout firm Vestar Capital Partners, will likely make smaller contributions than KKR in the bid.
Centerview last joined KRR following a group of private investors, led by KKR, in taking media researcher Nielsen private.
KKR was also the largest shareholder in Gillette when Kilts was the CEO.
Following the headline on Bloomberg, shares of Del Monte shot up 5.5% to a high of $18.27, though the stock gave a little back and ended 5.5% higher on the day at $17.99.
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