San Miguel to merge alcohol and food units

Diversified conglomerate San Miguel Corporation is consolidating its stakes in San Miguel Brewery Inc. and Ginebra San Miguel Inc. into San Miguel Pure Foods Corporation (SMPFC) to create an even more very big food and beverage company.

"The amendments to the primary goal and corporate name will result in the company being authorized to engage in the beverage business, and representing itself to the public as now being a food and beverage corporation", SMPFC said. The value of the transaction is pegged at P336.35 billion.

San Miguel said in a disclosure to the stock exchange it would transfer 7.86 billion shares in San Miguel Brewery Inc. and 216.97 million shares in Ginebra San Miguel to SMPFC with a combined value of P336.35 billion as a part of move to consolidate its food and beverage businesses under one subsidiary.

In addition to the name change and expansion of its primary objective, Pure Foods said its articles of incorporation would also be changed to reflect a reduction in the par value of its common shares to P1 from P10.

Why your brain refuses to work after a bad night's sleep
Too little shuteye interfered with the neurons' ability to encode information and translate visual input into conscious thought. For the study, UCLA researchers asked 12 people to respond to images as quickly as possible after staying up all night.

The company's primary goal will also be expanded to include its engagement in the alcoholic and non-alcoholic beverage business.

San Miguel shares rose 5.4% to 106.80 pesos each, while San Miguel Pure Foods shares surged by 50% - hitting the ceiling imposed by the Philippine Stock Exchange - to 462 pesos apiece.

A tender offer for San Miguel Brewery and Ginebra San Miguel common shares held by minority shareholders was also authorized by the Pure Foods board, if required by relevant laws and regulations. The company put this down to "creative marketing and sales executions", which allowed it to push into new geographical regions.

In relation to the consolidation and share swap, San Miguel Pure Foods has asked regulators to exempt it from the 10% minimum public float requirement, as the transaction will dilute shareholdings. It also sought tax exemptions from authorities and clearance from Philippine Competition Commission.


  • Ingalls & Snyder LLC Sells 4770 Shares of Verizon Communications Inc. (VZ)

    Ingalls & Snyder LLC Sells 4770 Shares of Verizon Communications Inc. (VZ)

    It is negative, as 90 investors sold VZ shares while 700 reduced holdings. 112 funds opened positions while 587 raised stakes. First Midwest Bank Trust Division decreased Verizon Communications Inc (VZ) stake by 16.84% reported in 2017Q2 SEC filing.
    Lobbyist: Tax bill fixes go through Ways and Means Committee chairman

    Lobbyist: Tax bill fixes go through Ways and Means Committee chairman

    Despite the various analyses, Republicans argued vociferously that the legislation is targeted toward the middle class. The House Ways and Means Committee launched a "markup" meeting at midday Monday that could stretch into Thursday.

    Gov't Says New Sanctions Will Block N. Korea's Source of Foreign Currency

    The document emphasizes that these steps "will help to block illegal currency flows to North Korea". However, the measures are being seen more as symbolic, rather than having any practical effect.
  • Cowen and Company Reaffirms "Outperform" Rating for TherapeuticsMD, Inc. (TXMD)

    Breaking: The 51.38% change in stock price for TXMD right now has an extreme impact on the technical rating when it was published. After a recent look, shares have been seen -21.38% from the 200-day moving average, and -21.24% from the 50-day moving average.
    With stores still closed, TJX continues to pay Puerto Rico employees

    With stores still closed, TJX continues to pay Puerto Rico employees

    Almost six weeks after Hurricane Irma hit Puerto Rico and devastated the island, the owners of the bargain stores T.J. It's not clear how numerous stores have since reopened or how many people TJX employs in Puerto Rico.
    Callous Thief Caught On CCTV Stealing Poppy Appeal Tin From Pub

    Callous Thief Caught On CCTV Stealing Poppy Appeal Tin From Pub

    Anyone with any information is asked to contact police on 101 quoting the log reference number 0839 of November. Police are investigating the incident and told MailOnline that they are appealing for information.
  • Pochettino not tempted to ditch Spurs

    Pochettino not tempted to ditch Spurs

    For us, we are focusing on our problems and our injuries but I also understand completely what the national team wants and needs. One of the reasons for the obvious happiness of the Argentinean coach is his good relationship with club boss Daniel Levy .
    Invasion 'only way' to disarm N korea

    Invasion 'only way' to disarm N korea

    The president has previously said that if forced to defend the United States or its allies, he "will have no choice but to totally destroy North Korea".

    Freeport-McMoran, Inc. (NYSE:FCX) Earns "Hold" Rating from FBR & Co

    First Republic Investment Management Inc. boosted its stake in shares of Freeport-McMoRan by 9.5% in the first quarter. The rating scale runs from 1 to 5 with 5 indicating a Strong Sell, 1 indicating a Strong Buy and 3 indicating a Hold.
  • Tottenham defender reveals he was in advanced negotiation with Barcelona in summer

    Tottenham defender reveals he was in advanced negotiation with Barcelona in summer

    Tottenham Hotspur defender Serge Aurier has spoken of the interest in him from clubs around the world. I think my reputation has scared four or five European clubs.

    Graphic Packaging Holding Company (NYSE:GPK) PT Raised to $18.00

    One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The stock of Graphic Packaging Holding Company (NYSE: GPK ) earned "Hold" rating by KeyBanc Capital Markets on Tuesday, July 25.
    Harrison couple among Texas shooting victims

    Harrison couple among Texas shooting victims

    Air Force retiree and the couple left behind have two sons who are both on active duty with the Air Force. He ultimately killed 26 people, including eight from a single family, and wounded 20 others.


Latest news

Cypress Semiconductor Corporation (NASDAQ:CY)
The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link . Also, Director Marc Lasry sold 4,088,978 shares of the firm's stock in a transaction that occurred on Tuesday, August 15th.

Zach Miller sends heartfelt message to fans, medical staff after awful injury
Mayer. "I understand the challenges ahead, but the amount of love and support is beyond inspiring". He was in good spirits and whatnot, doing what he has to do to get better".

Angry wife accuses husband of affair; causes plane to be diverted
He added that Qatar Airways fly to more than 150 destinations and Eastern Europe is in the company's growth plan. They had to take a circuitous route back home by first flying to Malaysia and from there to Doha.

Questions answered as open enrollment continues for Obamacare
Her county has just one marketplace insurer, Optima, after Anthem made a decision to exit Virginia for next year. If you do qualify for a tax credit, however, one must still enroll via the Marketplace to claim the savings.

Priceline (PCLN) Posts Q3 Earnings Beat, Stock Tanks On Weak Guidance
Another way to determine the effectiveness of a company's distributions is by looking at the Shareholder yield (Mebane Faber). The VC1 is calculated using the price to book value, price to sales, EBITDA to EV, price to cash flow, and price to earnings.

Suncorp scraps takeover for NZ's Tower
It added that: "Vero and Tower's Commerce Commission appeal is now continuing and is scheduled to be heard in late January 2018". Suncorp offered to buy Tower for $219.3 million, or $1.30 a share in February, increasing the offer to $1.40 a share in June.

Jameis Winston To Miss "A Couple Of Weeks" With Injured Shoulder
Winston has struggled for the 2-6 Bucs this year, passing for 1,920 yards with 10 touchdowns, six interceptions, and five fumbles. Bucs head coach Dirk Koetter discussed the decision in his weekly, exclusive "Koetter's Korner" interview.

1m livelihoods to be affected by Nasa boycott -Safaricom dealers
They observed that the country is already reeling from increased unemployment and such a boycott would only worsen the situation. They have families to feed and children to educate", Ouko said.

ABC announces 'American Idol' debut date
Singers also had the chance to submit videos online and audition through livestream. Seacrest will return as host of the series which launched his career back in 2002.

Vin Scully I'll Never Watch NFL Again ... Thanks to Protests
Those protests have evolved as President Donald Trump weighed in saying that players should be fired for disrespecting the flag . He remains unsigned and has filed a complaint that team owners colluded against him because of the protests.

Teton Advisors Inc. Boosts Holdings in American Eagle Outfitters, Inc. (AEO)
The firm has "Buy" rating given on Tuesday, September 13 by Wunderlich. (NASDAQ:EGHT) on Friday, June 3 with "Buy" rating. The stock of American Eagle Outfitters (NYSE:AEO) has "Neutral" rating given on Thursday, January 5 by Mizuho.

Senate Tax Bill Likely to Keep $1 Million Mortgage Cap
Ryan said he believes the House is still on track to vote on a revised tax bill before the Thanksgiving holiday on November 23. House Minority Leader Nancy Pelosi (Calif.) described the proposal as a "Ponzi scheme" and "a "gift to corporate America".

Canaccord Genuity Boosts Kinross Gold Co. (K) Price Target to C$8.00
It increased, as 53 investors sold UNH shares while 496 reduced holdings. 94 funds opened positions while 226 raised stakes. Kinross Gold Corp (NYSE: KGC ) shares traded 0% up during most recent session to reach at the closing price of $3.97.

The Inc. (AMZN) Stock Rating Reaffirm by William Blair
It dropped, as 64 investors sold AMZN shares while 542 reduced holdings. 153 funds opened positions while 670 raised stakes. The firm owned 8,408 shares of the e-commerce giant's stock after purchasing an additional 220 shares during the period.

Pembina Pipeline Corp (PPL) Given Consensus Rating of "Buy" by Brokerages
KB Home had 58 analyst reports since September 4, 2015 according to SRatingsIntel. 28,071 were accumulated by Citizens Northern. RBC Capital Markets maintained Humana Inc (NYSE:HUM) on Thursday, October 13 with "Sector Perform" rating.

Other news