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Strategies & Market Trends : Speculating in Takeover Targets

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From: richardred	1/26/2009 1:33:45 PM
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Heinz could be acquisition target: report Sunday January 25, 2:46 pm ET NEW YORK (Reuters) - HJ Heinz (NYSE:HNZ - News) could become an acquisition target once credit markets come unstuck, financial newspaper Barron's said on Sunday. Heinz shares, which currently trade at around $36, could ultimately fetch up to $60 or $70 each if the likes of Nestle (VTX:NESN.VX - News), Kraft (NYSE:KFT - News) or Unilever (LSE:ULVR.L - News) are interested in the company, which has a market value of $11 billion, Barron's said in its January 26 edition. Even without an acquisition bid, the paper said Pittsburgh-based Heinz's shares have the potential to rise around 30 percent to $45 this year as the stock has fallen about 27 percent in the last six months, compared with a 10 percent drop at other food companies. biz.yahoo.com

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