We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Shares of Colgate-Palmolive (CL) Pop as CEO May Want to Sell
Read MoreHide Full Article
On Wednesday, shares of leading global consumer products company Colgate-Palmolive Co. (CL - Free Report) are popping, up over 5% to $75.25 per share in afternoon trading after the New York Postreported that its CEO, Ian Cook, could be open to a sale.
According to sources with knowledge familiar with the matter, Cook would be open to selling the company for $100 a share, which values Colgate-Palmolive at over $88 billion. The source said this price came at a meeting with institutional investors that occurred in recent weeks.
Colgate-Palmolive, which is known for its toothpaste, soap, and deodorant brands, has struggled with slowing demand for its products, and rumors of a takeover have swirled for a while now. Notably, there has been talk of possible interest by Unilever (UL - Free Report) , the London-based consumer goods giant that owns Dove soap and Hellmann’s mayonnaise, among other products.
"We as a company ... build value for our share owners and all the constituents in our company. And that is what we will focus on and let the rumors and speculation take care of itself," Cook said at Colgate’s annual meeting last Friday when an investor asked what he would do if Unilever made an offer.
Procter & Gamble (PG - Free Report) could potentially make an offer as well, as activist investor Nelson Peltz owns a stake in Colgate’s rival and may want to angle towards consolidation. Other possible bidders include Johnson & Johnson (JNJ - Free Report) and Kraft Heinz (KHC - Free Report) , which is owned by Warren Buffett and Brazil’s 3G Capital.
Currently, CL is a #3 (Hold) on the Zacks Rank, with a VGM score of ‘B.’
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street.
They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Shares of Colgate-Palmolive (CL) Pop as CEO May Want to Sell
On Wednesday, shares of leading global consumer products company Colgate-Palmolive Co. (CL - Free Report) are popping, up over 5% to $75.25 per share in afternoon trading after the New York Post reported that its CEO, Ian Cook, could be open to a sale.
According to sources with knowledge familiar with the matter, Cook would be open to selling the company for $100 a share, which values Colgate-Palmolive at over $88 billion. The source said this price came at a meeting with institutional investors that occurred in recent weeks.
Colgate-Palmolive, which is known for its toothpaste, soap, and deodorant brands, has struggled with slowing demand for its products, and rumors of a takeover have swirled for a while now. Notably, there has been talk of possible interest by Unilever (UL - Free Report) , the London-based consumer goods giant that owns Dove soap and Hellmann’s mayonnaise, among other products.
"We as a company ... build value for our share owners and all the constituents in our company. And that is what we will focus on and let the rumors and speculation take care of itself," Cook said at Colgate’s annual meeting last Friday when an investor asked what he would do if Unilever made an offer.
Procter & Gamble (PG - Free Report) could potentially make an offer as well, as activist investor Nelson Peltz owns a stake in Colgate’s rival and may want to angle towards consolidation. Other possible bidders include Johnson & Johnson (JNJ - Free Report) and Kraft Heinz (KHC - Free Report) , which is owned by Warren Buffett and Brazil’s 3G Capital.
Currently, CL is a #3 (Hold) on the Zacks Rank, with a VGM score of ‘B.’
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street.
They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now>>