Beyond Meat Shares Drop Amid Debt Exchange Concerns
Beyond Meat's stock (BYND) declined following the company's announcement of an exchange offer, which may have impacted investor confidence and caused the stock to sink.
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Exchange Offer
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Choice Hotels Launches Hostile Bid for Wyndham, Initiates Exchange Offer and Prepares for Board Battle
Choice Hotels is making a hostile takeover bid for Wyndham Hotels & Resorts after its previous attempts for a friendly deal were rejected. Choice Hotels has unveiled an exchange offer for Wyndham stock, directly appealing to its rival's shareholders. Wyndham argues that the deal would burden the combined company with excessive debt.
Navigating the Tax Challenges of Johnson & Johnson's Kenvue Exchange
Johnson & Johnson's $35 billion exchange offer for Kenvue was tax-free for J&J shareholders, but determining the cost basis for investors can be challenging.
"Citi predicts strong performance for Kenvue stock post-exchange offer completion"
Citi expects Kenvue shares to outperform after its split from parent company Johnson & Johnson, citing a return to trading based on fundamentals. The investment bank anticipates additional volatility during the averaging period as event-driven funds adjust their positions post-close. Citi also sees potential benefits from index-fund demand as Kenvue is set to join the S&P500 index. The bank has a price target of $26 for Kenvue stock.
Kenvue Stock Joins S&P 500 Following J&J Exchange Offer
Kenvue will be added to the S&P 500 index after Johnson and Johnson completes its exchange offer for Kenvue stock, according to S&P Dow Jones Indices.
Johnson & Johnson initiates exchange offer to separate from Kenvue Inc.
Johnson & Johnson has provided more details about its plan to split off shares of its consumer health unit, Kenvue, through an exchange offer to shareholders. The company will offer at least 80.1% of its Kenvue stake or up to 1.5 billion shares in exchange for Johnson & Johnson common stock. The exchange offer is voluntary and is expected to close on August 18, 2023.