KKR Exits Bid for Nestle's Perrier Water Business, Bloomberg Reports
KKR is trading near its 52-week low of $82.67 (13% above the low) on light trading volume (0.3× avg).
Summary
KKR has reportedly withdrawn from the bidding process for Nestle's water business, which includes brands like Perrier. The report, citing Bloomberg News, indicates KKR dropped out in recent weeks. This follows a period of high M&A activity for KKR, including securing a $23 billion fund and engaging in several other significant deals. For a private equity firm, exiting a bid for a major asset like this is a material strategic decision regarding capital deployment.
At the time of this announcement, KKR was trading at $93.18 on NYSE in the Finance sector, with a market capitalization of approximately $83.7B. The 52-week trading range was $82.67 to $153.87. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.