Consumer Analyst Group of New York-sponsored consumer industry annual conference in Florida highlighted the acquisition of H.J. Heinz by Warren Buffett in $23 billion deal.
Though Heinz declined to present at the annual conference, it did not prevent analysts and investors to tackle about the deal, which according to boutique firm Consumer Edge Research analyst Robert Dickerson is the very first deal in years that has prominent amount of money involved.
Recently, Heinz disclosed earnings for the third-quarter and announced its plan of divesting China's frozen food business Shanghai LongFong Foods, while looking for a potential buyer for the deal.
Meanwhile, Don Mulligan, chief financial officer at General Mills, has warned that the high asset prices sought by sellers could prevent more merger activity in the industry as lofty valuations continue to occur from cheap financing.
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