Lamb Weston jumps after Reuters report on possible transaction with Post Holdings

Post Holdings

13/12/2024 20:11

** Shares of frozen potato products maker Lamb Weston  LW.N 
up 3% at $76.48
    ** Reuters reports, citing sources, that Post Holdings
 POST.N  is working with investment bankers to explore possible
transaction with Lamb Weston
    ** Post has market value of roughly $7 bln; Lamb Weston's
market capitalization stands at $10.5 bln 
    ** Lamb Weston is facing pressure from activist investor
Jana Partners to sell itself; it has been an attractive business
for Post, which had considered to buy it in 2015
    ** A representative for Post declined to comment, while a
representative for Lamb Weston was not immediately available for
comment
    ** POST shares down 2.7% at $116.65
    ** Including session's moves, LW down 32% and POST up 36% so
far this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; X: https://twitter.com/AnanyaMariam;))