Magnum Ice Cream Buyout Buzz: Blackstone and CD&R Circle Ben & Jerry’s Owner After Stock Slide
Blackstone and Clayton, Dubilier & Rice have started looking at possible bids for The Magnum Ice Cream Company N.V.—the company behind Ben & Jerry’s and Cornetto—according to two sources cited by Reuters on Friday. Magnum shares surged close to 16% following the news, heading for their steepest one-day climb since the stock’s debut. Timing is crucial here. Magnum only separated from Unilever under six months back, hitting the market around a 7.8 billion euro valuation. The shares slipped from a peak of 16.5 euros earlier this year, now hovering just above their initial listing price.