Boston, MA, 02/24/2014 – As per a document filed with the SEC, it is disclosed that Fifth Third Bancorp’s (NASDAQ:FITB) Executive Vice President Robert A. Sullivan has sold as much as 25,000 shared of the company’s common stock on Friday. These shares were sold at an aggregate price of $21.34 per share and the transaction total value came in at $533,300. Post the transaction, Sullivan now owns 231,360 shares of the company’s stock of worth $4,937,222.
Mondelez International Inc (NASDAQ:MDLZ) reported a below par fourth quarter 2013 results last week resulted from the challenges and pressure in the emerging markets. The company has also been subjected to criticism from its activist investor Nelson Peltz due to its low margins at 12% in 2013. Reportedly, Peltz has been on the company’s board since Jan 2014 and had backed off from his agenda of pressing PepsiCo, Inc. to acquire Mondelez. After the reported weaknesses, Modelez has spelled out certain steps, in order to raise its margins to 14-16% by the year 2016. Firstly, it has hired Accenture Plc to help it in cost reduction through zero-based budgeting system, under which the managers have to assign budgets for every year right from the scratch rather than referencing it from the previous year’s figures. With this Mondelez International Inc (NASDAQ:MDLZ) is looking at $3 billion of gross productivity savings by the end of 2016.
The Procter & Gamble Company (NYSE:PG) has joined the race of acquiring Merck & Co. Inc. (NYSE:MRK)‘s consumer-healthcare unit. According to the Reuters, Novartis AG (NYSE:NVS), Bayer (BAYRY) and Reckitt Benckiser (RBGPF) are among the suitors eyeing for the take-over. It was reported that Novartis and Merck have reviewed the option to swap Merck & Co. Inc. (NYSE:MRK)’s consumer-healthcare business with that of Novartis’s animal health and human vaccines unit, however, such a deal is unlikely to convert. GlaxoSmithKline plc (NYSE:GSK) is the only pharma which has not shown interest in the deal.