Snyder's-Lance acquires Diamond Foods in $1.9B deal

|About: Diamond Foods, Inc. (DMND)|By:, SA News Editor

Snyder's-Lance (NASDAQ:LNCE) announces it will acquires Diamond Foods (NASDAQ:DMND) in a deal valued at $1.9B.

Diamond shareholders will receive $12.50 per share and 0.775 shares of Snyder's-Lance at closing.

The deal has the backing of large Diamond shareholder Oaktree Capital

The merger is expected to kick up synergy benefits as high as $75M in annual cost savings.

Previously: Food sector M&A seen picking up (Oct. 23 2015)

DMND +11.78% premarket to $39.00.