News Formal

Sodexo eyes potential acquisition of US rival Aramark

  • 📰 TheManilaTimes
  • ⏱ Reading Time:
  • 20 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 35%
  • Publisher: 92%

Sodexo News

Eyes,Potential,Acquisition

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Global news industry launches ‘Choose Truth’ campaign ahead of World News DayThe global 'Choose Truth' campaign was launched on Tuesday, September 24, as part of the lead-up to World News Day on September 28. 
Source: manilabulletin - 🏆 25. / 51 Read more »