The Trader 

Bunzl shows that acquisitions can make shareholders better off

Phil Oakley

Bunzl shows that acquisitions can make shareholders better off

Acquisitive companies are generally mistrusted by investors. There are good reasons for this, as many acquisitions make shareholders worse off rather than better off. Distribution company Bunzl (BNZL) has proved to be an exception to this general rule and has done a good job in making acquisitions work for its investors.

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