Discussion in 'Trading' started by Toonces, Mar 4, 2003.
Anyone watching this after hours? What is going on???
FTC To Challenge Nestle and Dreyer's Merger
OK how many of you made $10K on that one? I got in late, only made $500.
Saw this cross the wire around 8:30 PM EST
OAKLAND, Calif.--(BUSINESS WIRE)--March 4, 2003--Dreyer's Grand Ice Cream, Inc. (Nasdaq: DRYR) and Nestle Holdings, Inc. (Nestle) made the following joint statement in response to the announcement by the Federal Trade Commission that it has authorized the initiation of litigation seeking an injunction against Dreyer's proposed transaction wth Nestle.
"We are continuing our discussions with the staff of the FTCregarding the potential divestiture of assets announced earlier today as a means of addressing the staff's concerns with respect to the transaction.
Dreyer's and Nestle Ice Cream Company (NICC) entered into an
agreement yesterday with a subsidiary of CoolBrands International Inc. (TSX:COB.A) (CoolBrands) for the sale and purchase of certain ice cream and distribution assets, and have submitted materials to the staff of the FTC regarding the proposed sale to CoolBrands to assist the staff in its review.
"Dreyer's and Nestle remain firmly committed to their transaction
and confident that they will be able to consummate it."
It is a difficult time to do risk arbitrage.
i went long monday !
Separate names with a comma.