Brexit May Increase M&A In European Consumer Foods

Susquehanna’s Pablo Zuanic takes a look at consumer food companies in the wake of Brexit , and writes that Coca-Cola Enterprises ( CCE ), Mondelez ( MDLZ ) and SodaStream ( SODA ) have the most exposure to the British pound and euro, which are falling today. For bargain hunters, he recommends Mondelez over CCE, given soda taxes and the fact that Coke’s ( KO ) 48% stake means it won’t’ be acquired. But overall he says that M&A in Europe is not more likely, as companies with plenty of U.S. dollar assets will have fertile hunting ground for acquisitions. Read More »