- Hillshire Brands (HSH) has agreed to acquire Pinnacle Foods Inc (PF) for $6.6B in cash and stock, including debt.
- Hillshire is offering $36.02 a share, or an 18% premium to Pinnacle Foods' close of $30.45 on Friday.
- Blackstone (BX), which holds approximately 51% of Pinnacle Foods, backs the transaction. (PR)
at CNBC.com (Aug 21, 2014)