Seeking Alpha

Pinnacle ends Hillshire merger deal, says will get $163M cash payout

  • Pinnacle Foods (PF) says it is terminating its merger agreement with Hillshire Brands (HSH) and expects to receive a $163M cash payment from HSH.
  • Hillshire withdrew support for the merger two weeks ago, choosing a $7.7B takeover offer from Tyson Foods.
  • PF also reaffirms FY 2014 EPS guidance of $1.70-$1.75 vs $1.74 analyst consensus estimate.
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Comments (1)
  • 50 cent it is
    , contributor
    Comments (1461) | Send Message
     
    As though Tyson didn't pay enough for Hillshire,now they have to eat this too.
    Heads will roll over this blunder
    1 Jul 2014, 05:18 PM Reply Like
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