Pinnacle Shareholders Could Benefit if Conagra's Advances Lead to Tie-Up
There are media reports that narrow-moat Conagra has made overtures to no-moat Pinnacle Foods, the latest acquisition activity in the consumer packaged goods sector. As we do not have any insight into whether a deal will materialize, we are holding the line on our $53 and $28.50 fair value estimates for Pinnacle and Conagra, respectively, with our estimates for both firms trailing trading prices.Conagra has long been considered a potential suitor for Pinnacle, particularly given both firms’ sig...
Conagra Brands is a packaged goods food company. The company's segments are: Grocery and Snacks, which includes branded, shelf stable food products sold in various retail channels; Refrigerated and Frozen, which includes branded, temperature controlled food products sold in various retail channels; International, which includes branded food products sold in retail and foodservice channels outside of the U.S.; Foodservice, which includes customized food products for sale to restaurants and other foodservice establishments; Pinnacle Foods, which includes and private-label food products; and Commercial Foods, which included commercially branded and private label food and ingredients, among others.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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