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Actionable news in HAIN: The Hain Celestial Group, Inc.,

Hain's Accounting Issues Dim Prospects of Takeover

The warning by Hain Celestial Group (HAIN) that it would delay the reporting of its fiscal 2016 results takes away the one reason that investors might have had to buy the stock, and likely keeps anybody with some cognitive functionality from buying shares even at a steep discount to where it was trading.

Shares of Hain Celestial plunged nearly 30% Tuesday, sending the stock skidding below $40 a share, and wiping out the gains those shares banked in 2016, as investors reacted to the surprising announcement of accounting concerns.

Hain, like a number of merchants of "good for you" branded products, had rallied this year amid consolidation in the branded packaged goods market, a move that only accelerated recently with the news that Danone would acquire WhiteWave Foods (WWAV) , a move that echoed the purchase two years ago of...