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Thousands Of Layoffs Coming After Buffett Merges Heinz With Kraft, Creating Fifth Largest Food Company In The World
Another day, another mega-M&A deal taking advantage of abnormally low bond rates, this time however not involving biotechs or a specialty pharma seeking to purchase a debt-free balance sheet, but one involving the Oracle of Omaha himself, and his Heinz investment, which will merge with Kraft Foods whose market cap was over $40 billion this morning on the news of the merger, and create the third largest food and beverage company in the US, and 5th largest in the world.
And while the resulting company will certainly be an unprecedented food giant, one which leaves the US food industry even more concentrated, here is the rationale behind the deal and the punchline for American workers: “significant synergy opportunities.” Translation: thousands of layoffs imminent …. http://www.zerohedge.com
Source: http://luismmx.blogspot.com/2015/03/thousands-of-layoffs-coming-after.html
