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News Breaks
June 4, 2014
07:38 EDTBNNYAnnie's accounting firm PricewaterhouseCoopers to resign
Annie's disclosed in a regulatory filing that on June 1, its Audit Committee was orally informed by its independent registered public accounting firm, PricewaterhouseCoopers, that PwC was resigning effective the earlier of August 11 or the completion of the company’s filing with the SEC of the Form 10-Q for the period ending June 30. The resignation was confirmed in a letter delivered to the committee on June 2. The committee has commenced a process to select a new accounting firm to serve as the company’s independent registered public accounting firm. Annie's said, "The reports of PwC on the company’s financial statements for each of the two fiscal years ended March 31, 2014 and 2013 did not contain an adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles. During the fiscal years ended March 31, 2014 and 2013 and in the subsequent interim period through June 1, 2014, there were no “disagreements” with PwC on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure which, if not resolved to the satisfaction of PwC, would have caused PwC to make reference to the subject matter of such disagreements in their reports on the financial statements for such years. [Also in that period], except for the material weakness in internal control over financial reporting [previously identified by the company], there were no “reportable events” as defined in Item 304(a)(1)(v) of Regulation S-K of the rules and regulations of the Securities and Exchange Commission." In its letter to the SEC, PwC stated: "We agree with the statements concerning our Firm in such Form 8-K. We make no comment as to the Company’s statements regarding the status of the remediation of its material weakness as described in such Form 8-K."
News For BNNY From The Last 14 Days
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September 22, 2014
09:08 EDTBNNYGeneral Mills commences tender offer for Annie's for $46 per share
General Mills (GIS) announced that its direct wholly owned subsidiary, Sandy Acquisition Corporation, has commenced its previously announced tender offer for all outstanding shares of common stock of Annie's (BNNY) at a price of $46.00 per share, net to the seller in cash, without interest and less required withholding taxes. The tender offer is being made in connection with the Agreement and Plan of Merger, dated as of September 8, 2014, by and among General Mills, Sandy Acquisition Corporation and Annie's, Inc., which General Mills and Annie's announced on September 8, 2014. The board of Annie's has unanimously determined that the offer is fair and advisable and in the best interests of Annie's and its stockholders, and recommends that the stockholders of Annie's accept the offer and tender their shares. The tender offer is scheduled to expire at the end of the day on October 20, 2014, unless extended.
September 17, 2014
11:11 EDTBNNYGeneral Mills crumbles after earnings miss, downgrade
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08:30 EDTBNNYGeneral Mills sees Annie's deal closing in CY14
General Mills (GIS) says sees Annie's (BNNY) deal accretive in first 12 months after closing. Says on pace to achieve $4B of cumulative savings from 2010-2020. Sees $400M of cumulative savings in FY15. Says top priority for FY15 is accelerating net sales growth. Comments from slides that will be presented on the Q1 earnings conference call.

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