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News Breaks
February 19, 2013
05:55 EDTDANOYDanone confirms plan to cut 900 jobs across 26 European countries
To address a lasting downturn in the European economy and consumer trends that have led to a significant decline in its sales in the region, Danone announced on December 13, 2012 that it was preparing a cost-reduction and adaptation plan for its organizations to win back its competitive edge. The project calls for three major changes: 1. A reduction by approximately half of management units, achieved by combining teams from several countries into multi-country units. 2. The combination within subsidiaries of several management functions that currently operate separately. 3. Focusing each level of management on missions and projects that have a direct impact on business growth. The proposed plan would lead to the suppression of around 900 management and administrative positions across 26 European countries and will be conducted in contact with all works councils representatives, at both European and local level. It will be deployed over a two-year period.
News For DANOY From The Last 14 Days
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July 28, 2014
12:42 EDTDANOYHospira, Danone rise following report of deal talks
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08:12 EDTDANOYHospira to obtain financial benefits from possible Danone deal, says Wells Fargo
After multiple media sources reported that Hospira (HSP) is in talks to buy Danone's (DANOY) medical nutrition business in a potential tax inversion deal, Wells Fargo estimates that the deal could be 9%-12% accretive to Hospira's EPS in 2015-2017 if it's an all-stock deal and 20%-22% accretive if it's a 50%/50% cash and stock deal. The firm The firm estimates that Hospira's tax bill would be cut to 21% in 2015 and 19% afterwards, from its current forecast of 24%-26% during those years. The firm thinks the strategic rationale for the deal from Hospira's perspective, however, is less clear. It keeps a Market Perform rating on the stock.
July 27, 2014
15:12 EDTDANOY Hospira in talks to acquire Danone medical nutrition business, FT says
French consumer company Danone (DANOY) has been in negotiations to sell its medical nutrition business to Hospira (HSP) in a deal said to value the unit at $5B, says the Financial Times. The deal would also allow for U.S. based Hospira to domicile its tax base in Europe in a tax strategy known as an inversion, added the Financial Times. In prior reports, Nestle (NSRGY) and Fresenius (FMS) have also been mentioned as suitors for the Danone unit. Reference Link
July 25, 2014
08:24 EDTDANOYDanone backs FY14 view for 4.5%-5.5% sales growth
Danone said 1H performance is in line with the Group roadmap and confirms that Danone’s business is solid: "sales have stabilized in Europe, where the Group continues to adapt its business portfolio and structures; emerging markets continue to report strong growth; and Early Life Nutrition sales in China are moving ahead." Danone has set the following targets for full-year 2014: • like-for-like sales growth of between +4.5% and +5.5%; trading operating margin stable within a range of -20 bps and +20 bps, reflecting the flexibility that the Group seeks to manage its operations, in particular for its Early Life Nutrition business in Asia; free cash-flow of around EUR1.5B excluding exceptional items.
08:20 EDTDANOYDanone reports Q2 like-for-like sales up 2.3% to EUR5.41B
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July 23, 2014
06:24 EDTDANOYMead Johnson could be worth $120-$130 in a takeout, says Citigroup
Citigroup says a Wall Street Journal article yesterday about Danone (DANOY) launching a strategic review has renewed speculation in the company being a potential acquirer of Mead Johnson (MJN). Citi says a buyout of Mead is in the "realm of possibility," and it estimates the company is worth $120-$130 per share in a takeout. The firm raised its price target for Mead shares to $109 from $105 citing the company's revenue momentum following its Q2 results. Citi reiterates a Buy rating on Mead.
July 22, 2014
14:23 EDTDANOYMead Johnson jumps after WSJ says Danone started strategic review
Shares of Mead Johnson (MJN) are moving higher after the Wall Street Journal reported that Danone (DANOY) has launched a strategic review. The French company has asked its top managers to explore expansion opportunities, The Journal stated, citing a person familiar with the matter. Shares of Mead Johnson, which reported its Q2 earnings earlier today, spiked 5%, or $4.91, to $97.18 following the report. WhiteWave Foods (WWAV) also moved higher following the report.
14:15 EDTDANOYMead Johnson spikes after WSJ says Danone seeking expansion opportunities
13:47 EDTDANOYDanone unveils review to examine growth opportunities, WSJ says
Danone has unveiled a strategic review as CEO Franck Riboud looks to ensure its long-term growth, amid renewed speculation regarding whether the French company can survive as a stand-alone firm, according to The Wall Street Journal, citing a person familiar with the matter. Reference Link
July 18, 2014
06:26 EDTDANOYDanone to buy 40% stake in Brookside Dairy
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