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Sodexo eyes potential acquisition of US rival Aramark

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Sodexo News

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SODEXO is exploring a potential acquisition of its US rival Aramark, Bloomberg News reported on Wednesday, sending the shares of the French food catering firm lower on Thursday.

Sodexo has been periodically discussing the deal with food and facilities management provider Aramark in recent months, the report said, citing people familiar with the matter.However, there is no guarantee that the talks will lead to a deal and, in any case, a potential deal could face antitrust scrutiny. Sodexo would also need to secure the funds for such a sizable acquisition, the report added.

'The move in Aramark's share price yesterday would suggest that Sodexo will have to pay up for the shares,' Morningstar analyst Michael Field said on Thursday.Sodexo's shares fell 7 percent by 0810 GMT , among the worst performers on Europe's benchmark STOXX 600 index.Earlier in the session, they touched their lowest price since late February at 68.10 euros per share.

 

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