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Campari Has Limited Upside from M&A/New Country Rollouts: BofAML 2014-01-14 07:23:16.823 GMT
By Francesca Cinelli Jan. 14 (Bloomberg) -- Doesn’t see major deals in S/T, highlights on-going integration of Appleton Rum coupled with operational challenges in core business. * Says Campari likely interested in picking up non-core brands from Beam; Suntory won’t need to make any disposals due to competitive overlaps because of limited presence in U.S., * Says positives (strong management, M&A track-record) more than priced in Campari shrs * Campari kept at underperform; PT EU5.6 * NOTE from yday: Suntory to acquire Beam for $16b {NSN MZCA006TTDSH <go>}
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To contact the editor responsible for this story: Francesca Cinelli at +39-02-80644-252 or fcinelli@bloomberg.net