Greencore’s (GNC LN, BUY, T/P 310p) share price fell sharply by around 7½% yesterday after its largest customer US based Tyson (TSN US, N/R) announced a $3.2bn deal to acquire Ohio based food manufacturing and foodservice company Advance Pierre Foods. While the deal expands Tyson’s operations to include Foodservice, Retail, Convenience and Schools, it is unclear why such an announcement implies major disruption to Greencore’s US business with the company – notab
26 Apr 2017
Tyson Announcement Not a Knock-Out Blow
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Tyson Announcement Not a Knock-Out Blow
Greencore Group Plc (GNC:LON) | 120 2.3 1.6% | Mkt Cap: 562.6m
- Published:
26 Apr 2017 -
Author:
Chris Wickham -
Pages:
4
Greencore’s (GNC LN, BUY, T/P 310p) share price fell sharply by around 7½% yesterday after its largest customer US based Tyson (TSN US, N/R) announced a $3.2bn deal to acquire Ohio based food manufacturing and foodservice company Advance Pierre Foods. While the deal expands Tyson’s operations to include Foodservice, Retail, Convenience and Schools, it is unclear why such an announcement implies major disruption to Greencore’s US business with the company – notab