Unilever (UN) Rebuffs Kraft Heinz’s (KHC) Takeover Offer; Point72 Asset Eyeing Potential in Delek US (DK)
Unilever N.V. (NYSE:UN) said Friday that it has rejected a cash-and-stock takeover offer made by food and beverage giant Kraft Heinz Co. (Nasdaq:KHC), adding that the approximately $143 billion bid undervalues the company.
According to Unilever, the offer to acquire all of its shares was comprised of $30.23 in cash and 0.222 Kraft Heinz shares.
Shares of Unilever soared to touch a new 52-week high of $49.17 in intraday trading Friday, finally closing at $48.79, up $6.47 (or +15.29%).
Unilever, which operates in the fast-moving consumer goods market worldwide, has 3.02B shares outstanding, market capitalization (intraday) of $147.58B and UN stock one-year range is now from $38.41 to $49.17 per share.
After the closing-bell Friday, Steven A. Cohen’s Point72 Asset Management, L.P. disclosed in a regulatory filing ( SC 13G ) with the Securities and Exchange Commission (SEC) a 5.1% passive stake (3,142,920 shares) in Delek US Holdings, Inc. (NYSE:DK).
DK stock finished the regular session in positive territory by 0.46% (or +$0.10) at $22.77 with a total volume of 689,196 shares traded.
Delek US Holdings, which operates as an integrated energy company, has 61.95M shares outstanding, market capitalization (intraday) of $1.41B and DK stock 52-week range is between $11.41 and $26.06 per share.
Disclaimer: The disclaimer is to be read and fully understood before using our site, or joining our email list. GalaxyStocks is not a registered investment adviser. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Investors should always conduct their own due diligence with any potential investment, with independent research and other professional advice. Read full disclaimer at http://galaxystocks.com/disclaimer/