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Stock Market & Financial Investment News

News Breaks
May 27, 2014
07:07 EDTHSH, PPC, PFPilgrim's Pride proposes to acquire Hillshire Brands for $45.00 per share cash
Pilgrim's Pride Corporation (PPC) announced that it has made a proposal toacquire The Hillshire Brands Company (HSH) for $45.00 per share in cash, in a transaction valued at $6.4B. Pilgrim said its all-cash proposal provides Hillshire shareholders with a substantially superior alternative to Hillshire's pending acquisition of Pinnacle Foods (PF), representing a 25% premium to the volume weighted average price of Hillshire shares over the 10 trading days following the announcement of the Pinnacle transaction. Further, the transaction represents a compelling value to Hillshire shareholders at 12.5x Hillshire's trailing adjusted EBITDA, including the $163M termination fee payable to Pinnacle. The proposal has the unanimous support of the Board of Directors of Pilgrim's, as well as the support of JBS S.A., the majority owner of Pilgrim's. It is anticipated that the proposed transaction would close in the third quarter of 2014 and would be subject to customary closing conditions and the termination of Hillshire's merger agreement with Pinnacle. Pilgrim's expects to finance the acquisition with a combination of existing cash balances and new debt financing.
News For PPC;HSH;PF From The Last 14 Days
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November 18, 2014
08:52 EDTPFPinnacle Foods 20M share Spot Secondary priced at $32.50
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November 17, 2014
18:32 EDTPFOn The Fly: After Hours Movers
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17:23 EDTPFPinnacle Foods announces offering of 20M shares of common stock for holders
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10:02 EDTPFOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: CyrusOne (CONE) upgraded to Buy from Hold at Stifel... MGIC Investment (MTG) upgraded to Conviction Buy from Buy at Goldman... NuVasive (NUVA) upgraded to Outperform from Market Perform at Wells Fargo... Phillips 66 (PSX) upgraded to Outperform from Neutral at Credit Suisse... Pinnacle Foods (PF) upgraded to Buy from Hold at Deutsche Bank... Rayonier (RYN) upgraded to Outperform from Sector Perform at RBC Capital.. Thoratec (THOR) upgraded to Outperform from Market Perform at Wells Fargo... Volcano (VOLC) upgraded to Outperform from Neutral at Credit Suisse... Progressive Waste (BIN) upgraded to Neutral from Underperform at Macquarie... Clean Harbors (CLH) upgraded to Outperform from Neutral at Wedbush... McGraw Hill Financial (MHFI) upgraded to Buy from Hold at Benchmark Co... Chesapeake (CHK) upgraded to Outperform from Market Perform at Bernstein... American Science & Engineering (ASEI) upgraded to Fair Value from Sell at CRT Capital... Sony (SNE) upgraded to Overweight from Equal Weight at Morgan Stanley.
06:38 EDTPFPinnacle Foods upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded Pinnacle Foods to Buy citing market share gains and an improved balance sheet . The firm raised its price target for shares to $37 from $34.
November 14, 2014
08:32 EDTPFPinnacle Foods to acquire Garden Proten International for C$175M
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