Kraft Denies Perdigao Acquisition Rumours
A Brazilian business publication had reported Kraft was in talks with the company's controlling stockholder, and that while the group was favorably disposed to a divestiture, Brazil's government had reservations about the putative transaction.
07/12/07 Kraft Foods Inc. has bluntly denied a published report that suggested the Northfield-based packaged-food giant is contemplating a multi-billion dollar bid for Brazilian meatpacker Perdigao.
A Brazilian business publication had reported Kraft was in talks with the company's controlling stockholder, and that while the group was favorably disposed to a divestiture, Brazil's government had reservations about the putative transaction.
Perdigao has a market capitalization of about $4 billion, based on the price of its shares on the stock exchange in Sao Paulo.
"We don't typically comment on market rumors, but since these reports come at the same time as the announcement that Kraft intends to access the debt capital markets, we can confirm that we are not in talks to buy Brazilian food maker Perdigao SA," the company said in a statement.
