27 JUN

Conagra is buying Pinnacle Foods in a $10.9 billion deal

ConAgra Foods production facility is seen in Oakdale, California, December 18, 2015. REUTERS/Fred Greaves/File Photo Thomson Reuters

  • Conagra has agreed to buy Pinnacle Foods in a $ 10.9 billion deal.
  • The deal will pay Pinnacle shareholders $ 43.11 per share in cash and 0.6494 shares of Conagra stock for each Pinnacle share.
  • Pinnacle shareholders will own 16% of the combined company.

(AP) — Conagra is buying Pinnacle Foods Inc. in a cash-and-stock deal valued at about $ 10.9 billion that will help the food company expand in the frozen food and snacks categories.

Pinnacle’s brands include Birds Eye, Duncan Hines and Hungry-Man. Chicago-based Conagra has brands such as Reddi-wip, Hunt’s, Health Choice and Slim Jim.

See the rest of the story at Business Insider

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Post Author: martin

Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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