Campbell is not a short-term story. This is a company that historically has not put enough marketing behind its business, and that's what they need to do. This year is a transition year. |
Everybody knew Coke was the one that could pay the most if they wanted to. Now, this puts the company back to where it was three weeks ago before the Pepsi bid. It clearly can remain an independent company if it wants to. They are not cornered at all. |
It was a high premium on a high stock price. We think this was a reasonable and fair offer. |
It's a very solid deal, ... It's a solid deal because the cost savings are greater than what people anticipated and Philip Morris intends to IPO the combined Kraft-Nabisco next year. |
It's a very solid deal. It's a solid deal because the cost savings are greater than what people anticipated and Philip Morris intends to IPO the combined Kraft-Nabisco next year. |
It's still a nice premium to where Quaker had been trading at before the first talks were announced. When the valuation climbed to more than $100 per share, we were calling it 'generous.' The high-90s is a very fair price. |
It's that simple, you can follow crimes from one part of the country to another, |
Pepsi clearly wants Quaker for strategic reasons. Their offer is still a substantial premium to where Quaker Oats is trading. The reason they walked away the first time is because they had Coca-Cola waiting in the wings. They no longer have that luxury. |
Quaker is on a strong growth track and has strong earnings momentum. So they can afford to wait a little here. |
The issue here is Coke's intent. If they want Quaker Oats' businesses, they have the financial muscle to get it done. |
The Nabisco management team is doing everything in their power to improve shareholder value, ... The food sector has just been drastically out of favor. |
The Nabisco management team is doing everything in their power to improve shareholder value. The food sector has just been drastically out of favor. |
The synergies are actually higher than what we thought it would be, ... The question is: Can they achieve those synergies? |
The synergies are actually higher than what we thought it would be. The question is: Can they achieve those synergies? |
The wild card here is Nestle because they are the largest global food company, ... They have to decide whether they want to participate. |