graphic
News > International
Nabisco in $2B cookie bid?
December 13, 1999: 6:28 a.m. ET

Report: Nabisco and buyout firm combine to bid for U.K.'s United Biscuits
graphic
graphic graphic
graphic
LONDON (CNNfn) - A combination of buyout firm Hicks, Muse, Tate & Furst and Nabisco Holdings is considering a last-minute attempt to acquire Britain's United Biscuits in a 1.24 billion pound ($2 billion) deal, according to a press report Monday.
    Such a deal would thwart competing offers from rivals, in particular a financial consortium, according to the Wall Street Journal Monday.
    The newspaper reported the Nabisco/Hicks offer would be worth 248 pence per share, and would trump the current highest bid for United of 245 pence per share. The leading bidder is a consortium involving Paribas and Deutsche Bank (FDTE), among others.
    United put itself up for auction in October.
    The Journal, citing people familiar with the matter, said Hicks, Muse and Nabisco (NA) had decided to pool their efforts after previous separate attempts to raise an offer by both firms had fallen down. Neither firm would comment to the newspaper.
    United recently sold its frozen food business to H.J. Heinz (HNZ) for $317 million, and the newspaper reported that analysts and shareholders were looking for an offer worth more than 260 pence per share for the whole company. However, as potential buyers have pored over the books they have lowered the price they are willing to pay, according to the newspaper.
    United shares rose 2 pence to 229 pence in London Monday. Back to top

  RELATED STORIES

United Biscuits confirms bid talks - Oct. 05, 1999

Hicks beats out Candover in Hillsdown battle? - Jun. 3, 1999

  RELATED SITES

United Biscuits


Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney




graphic

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.