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Fly News Breaks for July 7, 2016
WWAV, DANOY
Jul 7, 2016 | 08:49 EDT
After danone (DANOY) agreed to buy WhiteWave (WWAV), RBC Capital estimates that the deal will increase Danone's 2017 EBIT by 24% and its EPS by 10% if the company can meet its goal of achieving $300M in synergies. RBC estimates that Danone's ROIC on the deal will come in at at 2.8% before synergies and 4.4% after synergies, and it estimates that the company's net debt/EBITDA will jump to 3.7 times from 1.7 times on a pro-forma basis. RBC keeps an Underperform rating on Danone.
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