| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers C > Headlines for Concordia International Corp. > News item |
Cumberland prices; Petsmart surges after Chewy acquisition; Post up a bit; pharma down
By Colin Hanner and Paul A. Harris
Chicago, April 18 – Cumberland Farms, Inc. priced $300 million of eight-year senior notes on Tuesday, while in the high-yield secondary market mergers and acquisitions were felt, traders said, with the most actively traded issues coming out of Petsmart, Inc.
The pet-product retailer acquired online pet food and product retailer Chewy, Inc. for $3.35 billion, according to Recode, which cited several sources close to the deal. The price tag made it the largest e-commerce acquisition ever.
Petsmart bonds shot up in early morning trading, a trader said, before paring some gains in the afternoon to remain in the net positive for the session.
On Tuesday, St. Louis-based consumer packaged goods company, Post Holdings, Inc., announced it acquired Weetabix Food Co. for £1.4 billion in a news release.
Though Post’s stock and ratings were downgraded on the day, its bond were up marginally, a trader said.
In what would affect other pharmaceutical companies on the day, Cardinal Health, Inc. announced it was lowering expectations for its guidance range because of anticipated fourth-quarter results due to falling drug prices, a news release said.
Valeant Pharmaceuticals International, Inc. and Concordia International Corp. posted losses on the day.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.