Else Nutrition Shares Rally With Plans for Danone Collaboration
By Robb M. Stewart
Else Nutrition's shares soared Monday after the company unveiled plans for a collaboration with Danone that will initially see its plant-based, soy-free products added to the dairy giant's portfolio.
In morning trading, the shares were 35% higher at C$0.44, narrowing their decline so far this year to 20%.
Else, which has been pushing to get its products on store shelves in North America and elsewhere, said that following due diligence by Danone the companies signed a letter of intent for a staged collaboration. They expect to sign a definitive deal by the end of March.
Initially, Else's products will be manufactured, marketed and commercialized by the European company. The companies plan to negotiate opportunities beyond product commercialization.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
November 13, 2023 10:49 ET (15:49 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks