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...although a 31% premium over Cadbury's closing price on Sept. 4th, the last trading day before the bid was announced, values Cadbury at about 11 times 2009 EBITDA, estimates Growe. This is far below the 19 multiple that Mars paid when it snapped up Wrigley in a $23 billion deal last year. And Cadbury's growth potential, as outlined by the company's CEO Todd Stitzer last year, is bigger than Wrigley's was at the time. Analysts believe a suitor would need to pay at least a 16 multiple, or about $21 billion, to seal a deal with...
...soon after the first reports of the so-called swine flu emerged in the spring of 2009 that the already soft hog market practically collapsed. In China, a major consumer of U.S. pork, fully two-thirds of the 1.3 billion population stopped eating pork altogether, and Beijing responded with a ban on any pork produced in North Carolina, Iowa or Oklahoma. Russia and Ukraine followed with prohibitions of their own, and soon there were 27 countries that wanted nothing to do with any hog raised in America. Institutional buyers in the U.S. grew skittish too, as did big state...
Anyway, Yale's endowment has fallen $1 billion more than expected, and their provost has shaved off his signature mustache, so we're left to conclude that New Haven might be a bit off kilter...
After Harvard administrators started planning for a 30 percent drop in its $36.9 billion endowment by the fiscal year’s end, each of the University’s schools—and the Faculty of Arts and Sciences in particular—made a conscious push to bring in as many unrestricted gifts as possible. Rogers said that the strategy certainly helped boost fundraising numbers for the year, and Harvard will continue its efforts to raise current use funds...
After Harvard’s last capital campaign, which raised a record-breaking $2.6 billion ($3.4 billion in today’s dollars)—then the largest in the history of higher education—the University had intended to gear up for another campaign in 2006 or 2007. But the 2006 resignation of then-University President Lawrence H. Summers effectively put those plans on hold...