Less than 3 years after being spun off from then Kraft Foods (now the ill-named Mondelez [MDLZ]), Kraft Foods Group (KRFT) has agreed to a merger with Heinz. Heinz was taken private in 2013 by Brazilian private equity firm 3G capital, with backing from Warren Buffett’s Berkshire Hathaway(BRKA,BRKB). Berkshire Hathaway and 3G will be injecting an additional $10 billion… Read More »
While we are on the topic of Sandell Asset Management, it’s worth noting that firm suffered a setback earlier this month in one of its other major holdings, Bob Evans Farms (BOBE). The restaurant and refrigerated foods company dropped almost 20% after reporting a disappointing quarter and slashing rest of the year guidance due to weakness in its… Read More »
After disappointing guidance for this past quarter, Brookdale Senior Living (BKD) is under public assault from event driven firm Sandell Asset Management. Brookdale is one of the largest senior housing and care providers in the United States. Not to fear though, Mr. Sandell, head of the firm, has ideas and sent an open letter to the company suggesting: 1) the… Read More »