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NEW YORK-Following the turmoil at Wells BDDP, and the subsequent precipitous drop in the value of parent GGT’s stock, the London financial community was busy speculating last week about GGT’s viability as an independent holding company. At least one analyst said it could become a takeover target.
“After the loss of P&G, you lose the conflict and now you can get everything at half the price,” one analyst said. Conflicts with P&G had blocked many suitors from acquiring the BDDP network.
Last Wednesday, GGT released its six-month earnings, ending Oct.
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