Colgate-Palmolive (CL) Sees a Lift On Takeover Speculation
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Price: $94.13 +2.91%
Rating Summary:
18 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 14 | New: 12
Rating Summary:
18 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 14 | New: 12
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Shares of Colgate-Palmolive Co. (NYSE: CL) are seeing pre-open interest following analyst speculation that consumer-goods giant Unilever (NYSE: UL) should acquire the company.
UniCredit SpA analyst Nicolas Sochovsky said a deal between the two would make sense, boosting Unilever's emerging market sales growth, expanding its personal-care unit, in addition to boosting margins.
A deal would likely cost about $55 billion, according to Sochovsky, which is a sharp 50 percent premium to the company's current market cap of around $37 billion.
Shares of Colgate-Palmolive last traded at $77 per share in pre-open action, up 1 percent from yesterday's close.
UniCredit SpA analyst Nicolas Sochovsky said a deal between the two would make sense, boosting Unilever's emerging market sales growth, expanding its personal-care unit, in addition to boosting margins.
A deal would likely cost about $55 billion, according to Sochovsky, which is a sharp 50 percent premium to the company's current market cap of around $37 billion.
Shares of Colgate-Palmolive last traded at $77 per share in pre-open action, up 1 percent from yesterday's close.
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