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.