When does it end? What will it mean for us?
- by admin
Reuters – LONDON (Reuters) – Starbucks, which is seeking to sell off about one-fifth of its stock, is about to give its shareholders a final look at the options it has on the stock in a bid to close a deal that could help the struggling coffee chain to avoid a costly takeover by U.S. rival Colgate-Palmolive.
A deal for Starbucks, known as Starbucks Corp, would be the largest for a U.K. company in the past 15 years.
It would allow the company to buy out Colgate’s stake in Colgate, which it owns about 15% of.
Starbucks has previously been considering a takeover by a U and Chinese firm, but the deal could be approved at any time, a Starbucks spokesman said on Tuesday.
A spokeswoman for Colgate declined to comment on the Starbucks deal.
A Colgate spokeswoman declined to be interviewed.
Colgate has a 20% stake in Starbucks.
Colgate-Pacific has the largest market share in the coffee market in the United States.
It has about 13.4 million customers and has lost money each quarter for six years.
Its stock price has declined in recent months.
Starbucks could be the most attractive buy for Colgas.
It could give Colgate a stronger foothold in the U.T.O. market and also put pressure on Colgate to cut costs, which could lead to a drop in profit and hurt the company’s business.
Colgas shares fell 4.6% in early trading on Tuesday, closing down about 7% on the day.
Starbucks stock is up about 12% in recent trading.
Starbucks is seeking a buyer for about 1.4 billion shares, according to people familiar with the matter.
The shares would be worth about $2 billion at closing.
Colgagames share price is up 8% so far this year.
Colgas shares have gained more than 20% in the last three years, thanks in part to its strong performance in the health sector.
Starbucks shares have fallen in the recent years because of competition from Colgate.
Reuters – LONDON (Reuters) – Starbucks, which is seeking to sell off about one-fifth of its stock, is about to…
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