Fly Charts: Bob Iger's Payday and Pricey Pretzels
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And don't miss Chris Hughes and Andrea Felsted on the prospects of KKR's spreads bet: "For KKR, the challenge will be to make its margarine binge pay handsomely. Assume 4.4 billion euros of debt financing, about six times Ebitda. That's do-able given the cash-generative nature of the business. The equity check would be just 2.4 billion euros. Under focused, entrepreneurial management, it might be possible to give the business a new lease of life. There's an opportunity to re-position Unilever's spreads to the millennial market. What's more, KKR could use the business as a platform for future deals, hoovering up some of the other unloved parts of the big food producers."
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