Canned fruit firm in takeover talks

San Francisco: Del Monte Foods Co climbed as much as 13% in New York trading after the Financial Times said the maker of canned fruit and Meow Mix cat food is in advanced discussions to be taken over by KKR & Co.

The parties are talking about a price of around $18.50 (€13.55) a share, the newspaper reported, citing unidentified people familiar with the matter. That would be 18% higher than the San Francisco-based company’s close of $15.71 (€ 11.50) Thursday on the New York Stock Exchange.