Pinnacle Foods upgraded to Outperform from Neutral at Credit Suisse Credit Suisse upgraded Pinnacle Foods (PF) based on the expected termination of the Hillshire (HSH) merger agreement. The analyst said Hillshire will pay a $163M termination fee to Pinnacle that will provide options for the company to create shareholder value through another take-on acquisition, look for another transitional acquisition or even explore a potential sale. Price target is $36.
News For PF From The Last 14 Days
Check below for free stories on PF the last two weeks.
Pinnacle Foods says Hillshire Brands failed deal caused 'six weeks' distraction Pinnacle Foods (PF) says it has not lost any key executives following the "six weeks of distraction" caused by its aborted merger with Hillshire Brand (HSH). The company said it lost six weeks to investigate other M&A during that time, but that Pinnacle plans to be a consolidator and is back and active on exploring M&A opportunities. Comments from Pinnacle Foods' Q2 earnings conference call.