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

  • June 22, 2018


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.


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.

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