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Ben & Jerry's: new suitor?
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February 4, 2000: 2:59 p.m. ET
'Socially conscious' investors group said to mull bid for ice cream maker
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NEW YORK (CNNfn) - Ben & Jerry's Homemade Inc., facing the threat of an unwanted takeover from several potential buyers, may have found a friendly suitor.
The Vermont-based gourmet ice cream maker, known for its commitment to social and environmental causes, said Friday it "may be receiving an offer" from a group that includes "socially conscious business people."
But the company said it had not yet received any offer and declined further comment.
The Wall Street Journal reported earlier Friday that a group of socially conscious investors -- investors known for avoiding investments in specific company sectors, such as tobacco producers or gun manufacturers -- was considering making a bid for Ben & Jerry's to preserve the company's independence.
One idea being considered is a management-led buyout that would take the company private, the newspaper said.
Spearheading the effort are members of the San Francisco-based Social Venture Network, known for socially sensitive investing. The group includes Robert E. Barton, CEO of Catalyst Financial Group Inc., a small investment bank specializing in environmental friendly investments, and Dal LaMagna, who runs the "Tweezerman" personal-grooming company, the newspaper said.
Source: Ben & Jerry's Web site
Ben & Jerry's (BJICA: Research, Estimates) said Friday it would continue to review indications of interest to acquire the company or to pursue alternative deals under which it would remain independent.
The company disclosed in December that it had received indications of interest from potential suitors at prices significantly above its early-December share price of $21. The stock jumped 3-1/2 to 26 in afternoon trading Friday, amid the buyout speculation.
Interested parties reportedly include Dreyer's Grand Ice Cream (DRYR: Research, Estimates), Anglo-Dutch food conglomerate Unilever, Nestle (of Switzerland), Britain's Diageo PLC, and Italy's Roncadin.
Roncadin said in December it was interested in buying the American ice cream maker, but Reuters reported that the Italian firm denied on Friday it was still in talks with Ben & Jerry's.
-- from staff and wire reports 
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Ben & Jerry's
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