Recently, I’ve been highlighting a number of consumer staples deals, including the Wrigley (WWY) purchase and takeover rumors surrounding Anheuser-Busch (BUD).
Today, we got yet another M&A announcement … this time from Smucker (SJM). The company will be buying the Folgers coffee business from Procter & Gamble (PG) in a transaction worth about $3 billion.
PG shareholders will end up with a significant stake in SJM. In addition, before the transaction is completed, SJM will send out a $5-per-share special dividend to its investors.
I expect to see more deal activity in this space. The big players are looking for growth and economies of scale by snapping up smaller players and individual product lines.
Meanwhile, income investors who own these stable, profitable businesses are happily collecting dividend checks year in and year out.
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your Money & Markets article says Buffet is the richest individual ?? Did you forget the thieves called Rockefeller? Makes me wonder if you guys are on their payroll, like every other politician and financial magazine in this
country.