Food products maker Del Monte Foods Co. (DLM) said February 18 in a filing with the Securities and Exchange Commission, or SEC, that the company had hired privately-owned Perella Weinberg, a financial services firm, to seek alternative acquisition bids. Perella Weinberg will receive a retainer of $1 million, and a further transaction fee of $4 million if another potential acquirer is found and that acquisition completed.
This follows in the wake of the Delaware Court of Chancery's of February 14 which impose a 20-day delay in voting on the proposed acquisition by funds affiliated with Kohlberg Kravis Roberts & Co., Vestar Capital Partners and Centerview Partners. The group offered Del Monte shareholders $19 per share in cash. Subsequently, Del Monte's Board postponed its February 15 shareholder meeting until March 7.
The 45-day "go-shop" period agreed upon per the acquisition agreement ended January 8.
On Friday, Del Monte closed at $18.94 on the NYSE.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.