Snyder’s-Lance Shareholders Could Benefit From an Acquisition as Rumors Fly
Media reports that no-moat Snyder’s-Lance has hired advisors to evaluate sale options after an approach from wide-moat Campbell have lifted its shares. While we believe the firm’s brands could draw an attractive bid, we are not altering our $35.50 per share fair value estimate at this time as we do not have any insight as to whether a deal will materialize.The reports, which indicate talks are continuing with Campbell and one unnamed suitor, are consistent with our view that large food manufa...
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