I've asked the company for some time [about whether Morrison would leave], and the [recent] answer was 'who knows'.
Food stocks are viewed as 'classically defensive,' meaning that the earnings hold up well across a dip in the economy, across a recession.
With some deals already on the table and others supposedly on the table, food company managers suddenly have a reason to have an open mind.
Given the risks related to closing the deal, they are probably pretty comparable. A better situation, in my view, would have been $26 per share in cash on the table.
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