Private equity predators plot bid for Magnum
Shares in the owner of Ben & Jerry's ice cream soared as private equity predators get set to pounce.Magnum Ice Cream Company – which was spun out of Unilever last year and is listed on the stock market in Amsterdam – jumped 21 per cent, giving it a value of £7.5billion, before falling back.The rally followed reports that Blackstone and CD&R are among private equity firms in the early stages of exploring bids.The ice cream group was listed in December with a valuation of £6.8billion – below analyst expectations of up to £9.4billion. Popular: Magnum ice cream is promoted by actress Eva Longoria, picturedBritish consumer goods giant Unilever retains a 19.9 per cent stake in Magnum and plans to exit within five years.Deliberations are at an early stage, with Blackstone and CD&R waiting for Magnum's summer sales report before making a decision.DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you
Share or comment on this article:
Private equity predators plot bid for Magnum
