On Monday, Shares of Mondelez International Inc (NASDAQ:MDLZ), lost -2.87% to $41.96, at the start of trading on Monday, as CEO Irene Rosenfeld says she’d be a “willing seller” if a buyer for the company came forward, sources told the New York Post.
The CEO will not block a deal should hedge fund managers Bill Ackman and Nelson Peltz put one forth, as has been formerly rumored.
Peltz has been on Mondelez’s board for about a year and a half and has already tried to broker a deal to get PepsiCo (PEP) to buy the packaged food maker.
Meanwhile Ackman, who recently revealed a $5.5 billion stake in the company, has been advocating for a Kraft Heinz (KHC) partnership that billionaire investor Warren Buffett is statedly opposed to.
Separately, Rosenfeld has been aggressively trying to cut costs and improve margins at the company, but Ackman’s investment in the company signals that investors’ long held view that she could be doing more on that front is accurate, according to The Wall Street Journal.
The company’s adjusted operating profit margin was about 12% in 2014 contrast to the industry avearge of 15.8%, the Journal reports.
Mondelez International, Inc., through its auxiliaries, manufactures and markets snack food and beverage products worldwide. The company offers biscuits, counting cookies, crackers, and salted snacks; chocolates, and gums and candies; powdered beverages and coffee; and cheese and grocery products.
Shares of Office Depot Inc (NASDAQ:ODP), declined -0.13% to $7.56, during its last trading session.
When 11 inches of rain drenched the Greater Houston area over Memorial Day weekend, more than 12,000 homes and businesses were damaged – and countless children and families were affected.
To assist some of these children start the new school year on the right foot, the Office Depot Foundation donated 2,000 colorful new sackpacks containing essential school supplies to the Greater Houston Storm Recovery Network – a partnership of nonprofit, faith-based, local, state and national organizations that are working together to share information and resources to assist with recovery and rebuilding. The Foundation – the independent charitable giving arm of Office Depot® (ODP) – declared the donations during a special Back-to-School Celebration at a Houston Office Depot store.
The Office Depot Foundation is making the donations during the 15th year of its award-winning National Backpack Program. By the end of this year, Office Depot and the Office Depot Foundation will have given away more than 3.7 million backpacks and sackpacks since the National Backpack Program began in 2001. In total, the Foundation donated 5,000 sackpacks to Houston-area schools, nonprofit organizations and government agencies this week.
“We believe that every child should have the opportunity to go to school with dignity and hope,” said Office Depot Foundation President Mary Wong. “These sackpacks and school supplies assist to level the playing field.
The partnership between the Office Depot Foundation and the Greater Houston Storm Recovery Network was suggested by Feed the Children, an Oklahoma City-based nonprofit organization that worked with numerous agencies in the Houston area to provide relief following the floods. “At Feed the Children we believe in championing partnerships,” said Travis Arnold, Interim President and CEO. “We know that when we unite together with other nonprofits we will have a greater impact. That is why we were excited to connect the Office Depot Foundation with the Greater Houston Storm Recovery Network and assist serve these families that were influenced by the flooding.”
Office Depot, Inc., together with its auxiliaries, supplies office products and services. The company’s North American Retail division sells an assortment of merchandise, counting office supplies, technology products and solutions, business machines and related supplies, facilities products, and office furniture under various brands through its chain of office supply stores.
Finally, TETRA Technologies, Inc (NYSE:TTI), ended its last trade with -4.87% loss, and closed at $6.45.
TETRA Technologies, Inc, declared that, effective August 19, 2015, its board of directors has designated Joseph C. Winkler III as a member of the board of directors to fill the vacancy existing on its board of directors. Mr. Winkler will serve as an independent director.
Stuart M. Brightman, TETRA’s President and Chief Executive Officer, stated, “I am happy to welcome Joe to our board. He brings a wealth of oil and gas service industry leadership experience and will be a tremendous asset to TETRA.”
TETRA Technologies, Inc., together with its auxiliaries, operates as a diversified oil and gas services company. It operates through four divisions: Fluids, Production Testing, Compression, and Offshore.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
