Second Cup says sale, merger of U.S. unit under study
Article Abstract:
Coffee People Inc. of California, a unit of Toronto, Ontario-based Second Cup Ltd., is seeking alternatives for optimizing its value and putting together a strategy for the market, which could include a sale or a consolidation. Second Cup, a specialty coffee retailer, said its earnings for the first quarter was pulled down by the division, which is expected to post earnings for the next quarter. Coffee People, which employed US investment banker Robertson Stephens to help seek alternatives, has an annual systemwide sales of around C$180 million. Second Cup president Randy Powell said Coffee People should form a greater critical mass since further growth via deal is needed to succeed in the US specialty coffee market.
Comment:
Seeks alternatives for optimizing value and puts together a strategy for market, which could include a sale or a consolidation
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Smithfield mails takeover bid to Schneider holders
Article Abstract:
Smithfield Foods Inc., a hog butcher business headquartered in Norfolk, VA, has mailed its takeover bid to shareholders of target firm Schneider Corp. Smithfield is offering to acquire Schneider at C$15.71 each of the latter company's share, leading the total price to as much as C$115 million. On the other hand, Smithfield rival bidder Maple Leaf Foods Inc. in Toronto, Ontario, is rejected on its legal appeal by the Ontario Court of Appeals. Maple Leaf's appeal is aimed to reopen its bidding for Schneider's controlling shares.
Comment:
Mails its takeover bid to shareholders of target firm Schneider Corp
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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