Skip to main content

Posts

Showing posts from October 12, 2010

Nestle may take over Green Mountain: speculators

Green Mountain Rises 7.2%, Most in Month, on Nestle Speculation By Ian Thomson Bloomberg October 12, 2010 Green Mountain Coffee Roasters Inc., the seller of Keurig single-cup brewers, rose the most in a month in U.S. trading on speculation the company may be a target of Nestle SA, the world’s largest food company. Green Mountain climbed $1.94, or 7.2 percent, to $28.81 at 4:30 p.m. New York time on the Nasdaq Stock Market. The shares have dropped 23 percent since Sept. 27, the day before the U.S. Securities and Exchange Commission said it was investigating accounting errors at the company. Speculation that Nestle would begin a takeover bid for Green Mountain has also moved the stock in the past, Scott Van Winkle, an analyst in Boston with Canaccord Genuity Inc., said in a telephone interview. “Nestle has had enormous success with automated espresso in Europe and they can’t replicate that in the U.S.,” said Van Winkle, who has a $40 price target for Green Mountain. “Keurig is t...