United Biscuits News
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Intersnack Group said it hired banks for debt financing to back its acquisition of KP Snacks.
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Intersnack Knabber-Geback GmbH & Co. is close to an agreement to buy United Biscuits’ snacks unit for more than 400 million pounds ($644 million), according to three people familiar with the discussions.
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Companies including Kellogg Co. and KKR & Co. are considering bids for United Biscuits’ snacks unit, people with knowledge of the matter said.
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Bright Food Group Co. , Shanghai’s biggest food and dairy company, is in discussions for a possible acquisition of the U.K.’s United Biscuits from Blackstone Group and PAI Partners.
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The House will vote this week on legislation pressing China to raise the value of its currency, after a panel approved the measure showing support for U.S. manufacturers before the November election.
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Hangzhou Wahaha Group Co. is in pole position to buy United Biscuits’s 520 million-pound ($816 million) KP Snacks unit, the Sunday Times reported, without saying where it got the information.
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Chinese food manufacturer Bright Food is in exclusive negotiations about buying the U.K.’s United Biscuits, the Sunday Times reported, without saying how it obtained the information.
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Campbell Soup Co. is preparing a 1.5 billion pounds ($2.3 billion) offer for parts of United Biscuits Holdings Ltd. , the Sunday Times said, without saying where it got the information.
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The owners of United Biscuits are preparing to sell the company for about 2 billion pounds, Sky News reported, without saying where it got the information.
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Blackstone Group LP and PAI Partners Holdings Inc. hired Goldman Sachs Group Inc. and JPMorgan Chase & Co. to sell United Biscuits Holdings Ltd. in an auction worth about 2 billion pounds ($3.1 billion), the Financial Times reported , citing people familiar with the situation.
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