×

Subscribe Today

Get our free articles delivered directly to your email!

Continue reading

According to Bloomberg, Pinnacle Foods (PF) approached by Conagra Brands (CAG)

  • June 22, 2018

POTENTIAL DEAL DETAILS

StockPinnacle Foods Inc.SymbolPF
Date Announced06/21/2018Source Bloomberg
TypeNews Report
Date of Confirmation: 06/27/2018Price at Confirmation: $99.59
Potential Profit: -1.60%Annualized Profit: -97.37%

Conagra Brands Inc. (CAG)  has approached Pinnacle Foods Inc. (PF) about a potential deal that would add popular freezer-aisle brands to its roster at a time when frozen-food sales are booming, according to people familiar with the matter.

Conagra Brands Inc. (CAG) had previously approached  Pinnacle Foods Inc. (PF) on May 31, 2017. It was unsuccessful after failing to agree on a price.

Update(s):

June 27, 2018: Conagra Brands, Inc. (CAG) and Pinnacle Foods Inc. (PF) today announced that their boards of directors have unanimously approved a definitive agreement under which Conagra Brands will acquire all outstanding shares of Pinnacle Foods in a cash and stock transaction valued at approximately $10.9 billion, including Pinnacle Foods’ outstanding net debt.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.