3G Capital, a Brazilian private equity firm, is reportedly raising capital to make a bid to purchase Mondelez, the maker of the Oreo cookie.
Shares of Mondelez skyrocketed in after-market trading Wednesday evening, and performed well Thursday before opening Friday at a loss. Wednesday’s increase came after a German magazine reported that Heinz was going to take over the Oreo maker.
Both Mondelez and Heinz stock surged upward after the reports became public. Heinz confirmed that the company was not in talks with Mondelez about acquisitions, Bloomberg reports.
While media outlets confirmed that Mondelez has not been formally approached with an offer, sources close to the Brazilian firm say that it could be open to entertaining bids, the Post reports. 3G is close to finalizing a $10 billion fund, and could possibly use that capital to make a formal offer.
Mondelez has a market cap of $71.16 billion, a figure that would likely be out of the ballpark of 3G without some additional capital.
“We don’t comment on rumors or market speculation,” Mondelez told reporters.
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