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Stock impact report

UPDATE 1-Premier Foods drops plans to sell dessert brand Ambrosia [Reuters]

McCormick & Company, Incorporated (MKC) 
Last mccormick & company, incorporated earnings: 3/31 06:30 am Check Earnings Report
Company Research Source: Reuters
UPDATE 1-Premier Foods drops plans to sell dessert brand Ambrosia | Reuters 3 Min Read (Adds analyst comments, shares, background) Feb 15 (Reuters) - Mr Kipling cakes maker Premier Foods Plc said it has decided against selling Ambrosia rice pudding and custards brand to cut debt of over 500 million pounds ($645 million), citing a tough business climate that could have dented the deal value. Ambrosia was put up for sale in November, when Gavin Darby, who led the company from 2013, stepped down under pressure from an activist investor after failing to halt a share price slide since a proposed takeover by U.S. food maker McCormick & Co Inc fell through two years ago. “The Board has concluded that in the present business climate the process will not result in a satisfactory financial outcome. As a result, these discussions have now concluded,” Premier Foods said in a statement. The company’s stock, which fell more than 22 percent in 2018, was 5.4 percent lower at 35.6 pence at 0914 GMT. U Show less Read more
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