Posted on June 16, 2008 at 4:30 PM
Filed under: Acquisitions | Corporate Strategy
Tagged: hershey , LeRoy Zimmerman , nestle , Peter Brabeck

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Nestle SA chairman Peter Brabeck says he doesn't expect to make any acquisitions larger than $200 million to $300 million in the near term, according to Dow Jones Newswires. That dampens speculation (some of it in this space) that the $39 billion the company will get by selling Alcon, its contact lens unit, to Novartis AG in a two-stage deal could provide the wherewithal for a larger deal. 

Meanwhile, Hershey Co. shares closed Monday around 6% lower following Hershey Trust chairman LeRoy Zimmerman's pledge that the company is not for sale. In an op-ed piece published Sunday in the Harrisburg, Pa., Patriot-News, Zimmerman also said that there are other "meaningful options" for driving growth that don't required selling the company. An international JV to boost distribution outside the U.S. seems likeliest. - Kenneth Klee


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