McCormick prices share offering at $90.50

|About: McCormick & Company, Inc. (MKC)|By:, SA News Editor

McCormick (MKC -2.1%) has priced its share offering to help fund an acquisition of Reckitt Benckiser's food unit.

It's offering 5,524,862 shares at $90.50/share, below an assumed price of $94.51.

Underwriters get a 30-day greenshoe option to buy up to an additional 828,729 shares; the offering is expected to close Aug. 11.

Net proceeds are expected now at $482M.

Shares are down another 1.1% after hours.

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