The parent of popular protein drink company Muscle Milk is in advanced talks to sell itself, with Irish dairy company Glanbia PLC and consumer goods company Post Holdings Inc competing in the final stretch, people familiar with the matter said. TSG Consumer Partners, the private equity owner of Muscle Milk parent CytoSport, initially hired Credit Suisse AG to take the company public but later decided to explore a sale, Reuters reported last year.After an auction that also drew interest from WhiteWave Foods Co and Hormel Foods Corp in the early stages, Glanbia and Post have emerged as the final two contenders for a deal, the people said.TSG has hoped to fetch more than $500 million from selling CytoSport and a deal may still fail to materialize if the expected price is not met, the people cautioned, asking not to be identified by name because the matter is not public.A decision on the sale could be made in the next several days, one of the people added.
Hormel Foods Corporation is primarily engaged in the production of a variety of meat and food products and the marketing of those products throughout the United States and internationally. Shares of HRL traded higher by 1.94% or $0.88/share to $46.19. In the past year, the shares have traded as low as $36.10 and as high as $46.75. On average, 823464 shares of HRL exchange hands on a given day and today's volume is recorded at 1122827.
Post Holdings, Inc. is a holding company. The Company is a manufacturer, marketer and distributor of branded ready-to-eat cereals in the United States and Canada. Shares of POST traded higher by 3.17% or $1.76/share to $57.34. In the past year, the shares have traded as low as $37.43 and as high as $55.98. On average, 547426 shares of POST exchange hands on a given day and today's volume is recorded at 360279.
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