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

|About: Pinnacle Foods (PF)|By:, SA News Editor

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.