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Fly News Breaks for March 5, 2020
KDP, MDLZ
Mar 5, 2020 | 06:51 EDT
BofA analyst Bryan Spillane noted that Keurig Dr. Pepper (KDP) announced a secondary offering of 37.5M shares being sold by Mondelez (MDLZ) and Maple, an investment fund subsidiary of JAB Holdings. Discussing the offering, and potential for Mondelez to further sell down its stake, Spillane said it is possible that Mondelez could tap its equity holdings as a source of funds for acquisitions. Spillane keeps a Buy rating and $65 price target on Mondelez shares.