KHC Slides to $26 After Breakup Plan
NASDAQ:KHC Faces Pressure After Split Announcement
The Kraft Heinz Company (NASDAQ:KHC) has fallen sharply to $26.02, down almost 7% on September 2nd trading, after management confirmed plans to break the company into two independent businesses. The drop wiped billions from its market capitalization, bringing it to about $30.8 billion, a far cry from the $42.5 billion valuation seen just a year earlier. The plan envisions a separation into “Global Taste Elevation Co.”, holding core brands like Heinz, Kraft Mac & Cheese, and Philadelphia Cream Cheese, and “North American Grocery Co.”, carrying Oscar Mayer, Lunchables, and Kraft Singles. Management argues this move will reduce complexity, allow specialized focus, and unlock…
