’s Top Stories of The Week: UL, KHC, CXW, GEO, QSR, PLKI

Here are the stories that caught our eye this week.

Kraft pulls Unilever bid

After making headlines for its $143 billion offer for Unilever plc (NYSE:UL) last week, Kraft Heinz Co (NYSE:KHC) officially pulled its offer for the London-based consumer products giant on Monday.

Reportedly the decision to abandon the offer came from Warren Buffett himself, who did not want to go through the prolonged battle that would come with a hostile takeover attempt. Some analysts were surprised at Kraft’s reluctance to pursue a deal because Unilever does not have strong insider ownership or any provisions in place to effectively block a takeover.

Private prisons

Newly-elected President Donald Trump continues to make changes at a torrid pace. His administration decided on Thursday to reverse an order signed by President Obama to phase out the use of private prisons.

The two largest privately-owned prison stocks popped nicely on the news. Corecivic Inc. (NYSE:CXW) is up close to 3% in Friday’s trading, with The GEO Group Inc. (NYSE:GEO) posting similar gains. Both stocks have fully recovered from 52-week lows suffered in September, with GEO actually hitting a new 52-week high today.

Restaurant Brands Expands

After rumors of a deal were first leaked last week, Restaurant Brands International (TSX:QSR)(NYSE:QSR) made it official, agreeing to pay $1.8 billion U.S. for Popeyes Louisiana Chicken (NASDAQ:PLKI).

Popeyes has approximately 2,600 locations, with the majority of its locations in the United States. Restaurant Brands has big plans for the chain, planning to turn it into a true worldwide powerhouse.