Nestle's (NSRGY) bid for Chinese confectioner and snacks maker Hsu Fu Chi International was under review, according to July 15 reports.
If completed, the deal would represent one of the largest takeovers of a Chinese company by a foreign one.The Chinese Commerce Ministry's anti-monopoly bureau was evaluating the bid, according to state-run news agency Xinhua. Earlier this year Nestle acquired a 60% stake in China's Yinlu Foods Group for an undisclosed amount. The acquisition boosted its dairy business in the region.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV