The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, Nov. 21, 2017:
PepsiCo could be the next target for Kraft-Heinz
PepsiCo, Inc. (NYSE: PEP) could be the next takeover target for Kraft-Heinz Foods Co (NYSE: KHC), according to CreditSights as reported by Alphaville. Warren Buffett, who owns half of Kraft-Heinz with 3G, owns a 9 percent stake in Pepsi competitor The Coca-Cola Co (NYSE: KO).
CreditSights said a Pepsi deal would have a similar leverage to the failed 3G-Buffett attempt to acquire Unilever plc (ADR) (NYSE: UN) earlier this year.
Pepsico closed Tuesday at $116.05, up $1.14.
H&E Equipment Services to Acquire Contractors Equipment Center for $122.4M Cash
H&E Equipment Services, Inc. (NASDAQ: HEES) announced Tuesday a definitive agreement to acquire Contractors Equipment Center for approximately $122.4 million in cash. The transaction is expected to close in late fourth quarter of 2017.
H&E Equipment Services closed Tuesday at $36.36, up $1.60.
<President Trump Says AT&T-Time Warner Deal Isn't Good for the Country
The President's Comment:
President Donald Trump reiterated his criticism Tuesday of AT&T Inc. (NYSE: T)'s deal to acquire Time Warner Inc (NYSE: TWX). "I'm not going to get involved in litigation, but personally I've always felt that that was a deal that's not a good deal for the country," Trump told reporters as he was leaving for Florida. "I think your pricing's going to go up, I don't think it's a good deal for the country."
On Monday, the Justice Department filed a lawsuit aimed at blocking AT&T from acquiring Time Warner. The DoJ argued that AT&T would use Time Warner's film library to force competitors to pay more for content.
AT&T closed Tuesday at $34.33, down $0.31. Time Warner closed at $89.56, up $1.85.
See more from Benzinga
- Wall Street's M&A Chatter From Nov. 20: Marvell Technology, Aetna, Bloomin' Brands, AT&T
- Wall Street's M&A Chatter From November 16: 21st Century Fox, Barnes & Noble, Segel Vision-Evine Live
- Wall Street's M&A Chatter From November 15: SandRidge-Bonanza Creek, Mattel, Time Warner, Diplomat-LDI Integrated Pharmacy
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