Hillshire to buy Pinnacle Foods for $6.6B

|About: Hillshire Brands Co. (HSH)|By:, SA News Editor

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)

This was corrected on 05/12/2014 at 06:52 AM. The value of the deal was misstated.