TOP NEWS
* Shareholders of Takeaway.com NV approved the company's planned takeover of Just Eat PLC, including all of the terms in the proposal, according to a regulatory filing. Takeaway.com, which agreed to merge with its London-based peer in July 2019, raised its offer to 916 pence per share Dec. 19, 2019, in a bid to win a takeover battle with e-commerce investor Prosus NV. Just Eat shareholders have until 1 p.m. London time Jan. 10 to vote on Takeaway.com's final bid.
* Online food delivery platform Grubhub Inc. denied media reports that the company is exploring a sale. The Wall Street Journal was among the outlets that reported the development, citing people with knowledge of the matter. In a statement to S&P Global Market Intelligence, a Grubhub spokesperson said: "While our policy is not to comment on rumors, given the considerable media speculation that appeared yesterday, we felt it was important to clarify that there is unequivocally no process in place to sell the company and there are currently no plans to do so."
FOOD RETAIL & DISTRIBUTION
* Companhia Brasileira de Distribuição, or GPA, the Brazilian subsidiary of France's Casino Guichard-Perrachon SA, is selling its network of gas stations in a deal that could raise up to 1 billion reais, Reuters reported, citing one person with knowledge of the matter and a report by Brazilian financial blog Brazil Journal. GPA representatives declined to comment on the matter, according to the news outlet.
* Target Corp. said it increased its dividend payout for the first quarter to 66 cents per share from 64 cents per share in the prior-year period, payable March 10.
* Indian online food delivery company Zomato Media Pvt. Ltd. is raising up to $150 million from investor Ant Financial, an Alibaba Group Holding Ltd. affiliate, according to Info Edge (India) Ltd., Zomato's top shareholder. Zomato said the $150 million capital infusion was part of a larger fundraising round but did not give further details, Reuters reported.
BEVERAGES
* Wine retailer Naked Wines PLC reported an 11% rise in underlying revenue for its continuing businesses for the 10-week Christmas trading period ending Dec. 31, 2019. As previously announced, CEO Rowan Gormley stepped down from the position, effective Jan. 9. Gormley will be replaced by Nick Devlin. Greg Hodder also formally stepped down from the board, effective Jan. 9.
* Fomento Económico Mexicano SAV de CV said it acquired the remaining 40% interest in Grupo Socofar that it does not already own, making it the sole shareholder of the Chilean drug store chain. Financial terms of the deal were not disclosed.
* Anheuser-Busch InBev SA, maker of Budweiser and Stella Artois beers, signed a 10-year virtual power purchase agreement with BayWa r.e. Renewable Energy GmbH for over 130 MW of solar energy from new facilities to be built in Spain. AB InBev also pledged to source all of its purchased electricity from renewable energy projects as part of its 2025 sustainability goals.
* Canadian bottled water delivery company Cott Corp. and its wholly owned subsidiary Eden Springs acquired Clearwater Kereskedelmi és Szolgáltató Korlátolt Felelősségű Társaság for an undisclosed sum. Clearwater is a Hungary-based sparkling water producer.
* PepsiCo Inc. said it will roll out a sugar-free version of its Mountain Dew soft drink brand in the U.S. on Jan. 13.
* Kirin Brewery Co. Ltd aims to sell 136.7 million cases in 2020 across all its categories, up 0.9% year over year, The Japan Times reported. Suntory Holdings Ltd. also plans to increase its beer and quasi-beer sales by 1% to 64 million cases this year, while Sapporo Holdings Ltd. aims to sell 44.5 million cases, up 2.4%. Asahi Group Holdings Ltd. expects its beer and quasi-beer shipments to come in at ¥666 billion, unchanged from 2019, the report added.
TOBACCO & SMOKING PRODUCTS
* The U.S. Centers for Disease Control and Prevention said that as of Jan. 7, a total of 2,602 vaping-related lung injury cases have been reported from all 50 states plus Puerto Rico; the U.S. Virgin Islands; and Washington, D.C. The CDC also confirmed 57 deaths in 27 states and Washington, D.C.
PACKAGED FOODS
* Colorado-based maker of food and snacks The Simply Good Foods Co. said it expects full-year adjusted diluted EPS to be in the range of 90 cents to 95 cents, compared to 77 cents per share in 2019. The company said adjusted diluted EPS for its first fiscal quarter amounted to 22 cents, unchanged from a year ago.
RESTAURANTS
* Bakery-café chain Panera Bread is set to add more grain and plant-based options and high-quality lean-cut meats to its menu, CEO Niren Chaudhary told CNBC in an interview. The company's plant-based options will use whole foods derived from plants instead of products from Beyond Meat Inc. and Impossible Foods Inc., the report added.
* Luckin Coffee Inc. raised a combined $778 million from an additional share sale and a convertible bond offering, Bloomberg News reported, citing people familiar with the matter. The coffee chain sold $378 million in new shares at $42 each and a $400 million five-year convertible, the sources told the news outlet. The company intends the proceeds to push for international expansion and an "unmanned retail initiative."
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng was up 0.27% to 28,638.20, and the Nikkei 225 increased 0.47% to 23,850.57.
In Europe, around midday, the FTSE 100 was up 0.02% to 7,599.56, and the Euronext 100 was up 0.05% to 1,159.24.
On the macro front
The employment situation report, the wholesale trade report and the Baker-Hughes Rig Count report are due out today.
Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.
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