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Campbell Soup snacks on Snyder’s-Lance

Published 12/18/2017, 07:38 AM
© Reuters.  Campbell Soup snacks on Snyder’s-Lance
CPB
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LNCE
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  • Campbell Soup (NYSE:CPB) announces that it struck a deal to acquire Snyder’s-Lance (NASDAQ:LNCE) for $50.00 per share in an all-cash transaction.
  • The company expects the deal to boost its snacking platform and generate $170M in cost synergies by the end of FY22.
  • "The combination of Snyder’s-Lance brands with Pepperidge Farm, Arnott’s and Kelsen will create a diversified snacking leader, drive sales growth and create value for shareholders. This acquisition will dramatically transform Campbell, shifting our center of gravity and further diversifying our portfolio into the faster-growing snacking category," say Campbell CEO Denise Morrison.
  • LNCE +5.58% premarket to $49.40.
  • Source: Press Release
  • Now read: Kellogg: Don't Write Off The Boring Stocks Yet


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