Royal Ahold NV shares fell the most in more than a year after the biggest Dutch retailer said it has been losing market share in the Netherlands and a plan to redistribute cash to shareholders fell short of some analysts’ expectations.
Royal Ahold NV, the Dutch owner of Stop & Shop grocery stores, is likely to redistribute some of the 20 billion kronor ($3.1 billion) proceeds of its ICA stake sale to shareholders as it shies away from large acquisitions.
Joh. A. Benckiser, the investment arm of the billionaire Reimann family, agreed to buy D.E Master Blenders 1753 NV for about 7.5 billion euros ($9.8 billion) to build a coffee conglomerate in the industry’s biggest deal ever.
Reckitt Benckiser Group Plc , the maker of Lysol cleaners and Nurofen painkillers, agreed to buy India’s Paras Pharmaceuticals Ltd. for about 32.6 billion rupees ($724 million), extending its push into consumer healthcare.
Danone, the world’s biggest yogurt maker, reported first-quarter revenue growth that beat analysts’ estimates as it sold more bottled water in Indonesia and China and baby food in Asia and the Middle East.
D.E Master Blenders 1753 NV rose in Amsterdam trading as investors placed their trust in Chairman Jan Bennink following the surprise departure of Chief Executive Officer Michiel Herkemij a year into the job.
Nestle SA, the world’s biggest food company, agreed to buy Pfizer Inc.’s infant-nutrition unit for $11.9 billion, edging out Danone in a contest for a business that gets most of its sales in fast-growing emerging markets.
Nestle SA , the world’s largest food company, reported 2010 sales growth that beat analysts’ estimates as consumers bought more Nespresso coffee capsules, and forecast higher revenue and margins this year.