Key Developments: Dean Foods Co (DF)
20.95USD
17 May 2013
$0.36 (+1.75%)
$20.59
$20.55
$21.06
$20.35
8,626,419
3,620,792
$21.06
$11.66
Latest Key Developments (Source: Significant Developments)
Dean Foods Co Issues Q2 2013 EPS Guidance; Reaffirms FY 2013 EPS Guidance
Dean Foods Co announced that for second quarter of 2013, it expects adjusted diluted earnings of $0.11-$0.15 per share (EPS), excluding WhiteWave's operating results. The Company reaffirmed fiscal 2013 EPS guidance in the range of $0.45-$0.55, excluding WhiteWave's operating results. Full Article
Dean Foods Co Announces Chairman Change-Form 8-K
Dean Foods Co reported in its Form 8-K that on May 1, 2013, at a meeting of the Board of Directors (Board) of Dean Foods Company (Dean Foods), the Board accepted the resignations of Gregg Engles as Chairman of the Board and Director, as well as the resignations of Stephen Green, Joseph Hardin, Jr. and Doreen Wright as Directors of Dean Foods, effective as of the conclusion of the May 1, 2013 meeting of the Board at which the Board approved the spin-off by Dean Foods of a portion of its remaining equity interest in The WhiteWave Foods Company (WhiteWave) on May 23, 2013, to stockholders of record of Dean Foods at the close of business on May 17, 2013. Also on May 1, 2013, the Board elected Tom Davis to serve as Chairman of the Board, effective at the conclusion of the May 1, 2013 meeting of the Board at which the Distribution was approved. Full Article
Dean Foods Co Issues Q1, FY 2013 EPS Guidance Below Analysts' Estimates
Dean Foods Co announced that excluding whitewave's operating results it expects adjusted diluted earnings per share (EPS) between $0.45 and $0.55 for fiscal 2013 and EPS of $0.10 and $0.15 for first quarter of 2013. Including its current whitewave ownership interest, and assuming that the whitewave foods Company achieves $0.70 and $0.15 of adjusted EPS for the fiscal 2013 and first quarter of 2013. It expects EPS of $1.00 and $1.10 for fiscal 2013 and EPS of $0.22 and $0.27 for first quarter of 2013. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.29 for fiscal 2013; EPS of $0.30 for first quarter of 2013. Full Article
Saputo Inc Signs Definitive Agreement To Acquire Dean Foods Co's Morningstar Foods, LLC
Saputo Inc announced that it has signed a definitive agreement to acquire Morningstar Foods, LLC (Morningstar), a subsidiary of Dean Foods Co. Morningstar produces a variety of dairy and non-dairy extended shelf-life (ESL) products, including creams and creamers, ice cream mixes, whipping cream, aerosol whipped toppings, iced coffee, half and half, value-added milks, as well as cultured products such as sour cream and cottage cheese. The purchase price for the transaction is USD1.45 billion on a debt-free basis and will be financed through a newly committed bank loan. The transaction is subject to customary conditions (including regulatory approval) and is expected to close by the end of December 2012. Full Article
Dean Foods Co Raises FY 2012 EPS Guidance; Issues Q4 2012 EPS Guidance Above Analysts' Estimates
Dean Foods Co increased its fiscal2012 guidance for adjusted diluted earnings of between $1.27 and $1.32 per share, driven by continued momentum across the business, offset by the expected impact of rising commodity costs, particularly at Fresh Dairy Direct. For the fourth quarter of 2012, it expects adjusted diluted earnings per share (EPS) of between $0.27 and $0.32. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.26 for the fourth quarter of 2012; EPS of $1.19 for fiscal 2012. Full Article
Goldman Sachs Group's Michael Foods, Apollo Global Management LLC, Grupo Lala, Eye Dean Foods Co Unit-Reuters
Reuters reported that Dean Foods Co's Morningstar business has attracted takeover interest from Michael Foods and Mexican dairy company Grupo Lala, in a deal that could be valued in the $1 billion to $1.5 billion range. Private equity firms including Apollo Global Management LLC are also pursuing Morningstar, which makes creams, coffee creamers and other dairy products mostly under private label or store brands. The Dallas, Texas-based company, being advised by investment bank Evercore Partners Inc on the sale process, is expected to receive final bids for Morningstar. Dean Foods, Grupo Lala, Michael Foods and Apollo declined to comment. U.S.-based Michael Foods, is owned by GS Capital Partners, the private equity arm of Goldman Sachs Group. Full Article
Dean Foods Co 's WhiteWave Unit To Raise Up To $320 Million In IPO-Reuters
Reuters reported that Dean Foods Co reported preliminary results for its WhiteWave Foods business and said the unit's upcoming initial public offering should raise as much as $320 million. WhiteWave will offer 20 million Class A common shares for between $14 and $16 per share. Dean also said it will sell about 12% of the unit in an IPO and would retain 88% economic interest after the listing. Dean may then later transfer all or a portion of its remaining stake to shareholders through a tax-free spin-off. Full Article
Dean Foods Co Announces CEO Resignation-Form 8-K
Dean Foods Co reported in its Form 8-K that in connection with the IPO, on August 7, 2012, Gregg L. Engles was appointed Chief Executive Officer (CEO) and Chairman of the Board of Directors of WhiteWave and Blaine E. McPeak was appointed President, WhiteWave. Effective upon completion of the IPO, Mr. Engles will resign as the Chief Executive Officer (CEO) of the Company and will remain Chairman of the Company’s Board of Directors and the Chief Executive Officer and Chairman of the Board of Directors of WhiteWave and Mr. McPeak will remain President, WhiteWave and cease to be an Executive Officer of the Company. Full Article
Dean Foods Co Announces Filing Of Ipo Registration Statement For The Whitewave Foods Company
Dean Foods Co announced that its wholly-owned subsidiary, The WhiteWave Foods Company, filed a registration statement with the U.S. Securities and Exchange Commission for an Initial Public Offering (IPO) of its Class A common stock. Following the IPO, The WhiteWave Foods Company will own Dean Foods' WhiteWave-Alpro business, which manufactures, markets, distributes and sells branded plant-based foods and beverages, coffee creamers and beverages and premium dairy products throughout North America and Europe. Following the IPO, Dean Foods will own at least 80% of The WhiteWave Foods Company's common stock. Dean Foods intends to distribute its remaining interest in The WhiteWave Foods Company to Dean Foods' shareholders in a tax-free distribution no earlier than 180 days following the closing of the IPO. J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC and BofA Merrill Lynch will act as joint book-running managers for the offering. Full Article
Dean Foods Co Issues Q3 2012 EPS Guidance In Line With Analysts' Estimates; Raises FY 2012 EPS Guidance
Dean Foods Co announced that for third quarter of 2012, it expects adjusted diluted earnings per share (EPS) to be between $0.25 and $0.30. Given strong performance in the first half, and expectations for continued momentum over the balance of the year, the Company is fiscal 2012 guidance for adjusted diluted earnings per share to a range of $1.18-1.28 per share under current corporate structure. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.26 for third quarter of 2012; EPS of $1.16 for fiscal 2012. Full Article
Dean Foods first-quarter profit jumps on Morningstar sale
- Top U.S. dairy company Dean Foods Co , the maker of Meadow Gold milk and Silk soymilk, reported a better-than-expected first quarter, sending its shares up 2 percent, while asset sales sent its net profit soaring.
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