When asked about a rumored interest from 3G Capital in acquiring Campbell Soup Company CPB, Morningstar analyst Erin Lash told Benzinga that the firm has been mentioned “several times” as a potential takeover target.
The Wall Street Journal published an article saying that 3G Capital was considering food and beverage company acquisitions, including Campbell.
Lash also pointed out that there have been rumors of a tie-up between Campbell and H.J. Heinz Company, which was purchased by 3G Capital and Berkshire Hathaway.
“From our perspective, Campbell is different from Heinz in and of the fact that it’s still undergoing a turnaround, and it doesn’t maintain the global distribution that Heinz boasts,” she said.
Lash added that the idea isn’t completely off the table, but just that those are the reasons why it seems less likely.
Campbell shares were trading about 4.8 percent higher.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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