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BRFS

BRF S.A.

$7.26

0.09 (1.26%)

08:55
05/31/19
05/31
08:55
05/31/19
08:55

BRF S.A. reports negotiations with Marfrig on potential business combination

In a regulatory filing, BRF S.A. informed its shareholders and the market, "in the context of the assessment of strategic options that may generate value for its shareholders," that it has started negotiations with Marfrig S.A. in connection with a potential business combination between the two companies. The company's board approved the execution of a binding Memorandum of Understandings between Marfrig and the company setting forth rules and conditions regarding the access to information that provides for an exclusivity period of ninety days, renewable for additional thirty days, during which neither party may begin negotiations with third parties. "In the context of such analysis, the company and Marfrig shall evaluate, with their respective legal, accounting and financial advisors, the economic benefits that may result from the eventual implementation of the Transaction, as well as the most efficient corporate structure to be adopted," the filing stated. "Pursuant to the Memorandum of Understandings, the valuation of any combination will be based on the average of the daily weighted price quotation of the shares of each company in the last forty five calendar days in B3 S.A. - Brasil, Bolsa, Balcao immediately prior to the date of disclosure of this Material Fact, that is, between April 15 and May 29, inclusive, which would result in an equity ownership by the shareholders of the company of 84.98% and by the shareholders of Marfrig of 15.02%. The company clarifies, however, that the companies will conduct a reciprocal due diligence process during the exclusivity period, which results may, at the joint discretion of both companies, cause the terms of the Transaction to be adjusted," the filing added.

BRFS BRF S.A.
$7.26

0.09 (1.26%)

10/02/18
UBSW
10/02/18
DOWNGRADE
UBSW
Sell
UBS doesn't see profit at BRF until 2021, downgrades shares to Sell
UBS analyst Alan Alanis downgraded BRF S.A. to Sell and lowered his price target for the shares to R$20 from R$22. BRF has lost money since 2016 and the analyst does not expect the company to tun a profit until 2021. Slow economic recovery, continued closure of key export markets and higher cost inflation remain headwinds, Alanis tells investors in a research note. He sees downside to consensus estimates and believes good news is already priced into the shares.
11/13/18
SANT
11/13/18
DOWNGRADE
SANT
Hold
BRF S.A. downgraded to Hold from Buy at Santander
04/01/19
SANT
04/01/19
UPGRADE
SANT
Buy
BRF S.A. upgraded to Buy from Hold at Santander
04/23/19
GSCO
04/23/19
DOWNGRADE
GSCO
Sell
Goldman downgrades Hormel to Sell, upgrades Sanderson to Neutral
Goldman Sachs analyst Adam Samuelson downgraded Hormel Foods (HRL) to Sell from Neutral and cut his price target for the shares to $35 from $37. With his estimates now below consensus and "limited" earnings growth forecasted through fiscal 2020, the analyst sees risk to Hormel's "premium" valuation. The breadth and depth of African swine fever's impact across the Chinese pork industry, and as a result the global protein industry, will be significant in the near-to-medium-term, Samuelson tells investors in a research note. Buy-rated Tyson Foods (TSN) and BRF S.A. (BRFS) remain the analyst's preferred way to gain exposure to the Global Protein market. Samuelson this morning also upgraded Sanderson Farms (SAFM) to Neutral from Sell and raised his price target for the shares for $131 from $81. Higher competing protein prices and improving U.S. export prospects "make a more negative stance unsustainable," Samuelson contends. He raised his fiscal 2020 and 2021 margin forecasts for the company to "normalized levels." However, further upside is tempered, for now, by increases in U.S. processing capacity coming on stream over the next 18 months, the analyst contends.

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Facebook

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PCG

PG&E

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Kinder Morgan

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Micron

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FedEx

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FedEx

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QD

Qudian

$8.46

-0.275 (-3.15%)

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FDX

FedEx

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FedEx

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Amazon.com

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FDX

FedEx

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FDX

FedEx

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FedEx

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