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Stock Market & Financial Investment News

News Breaks
May 22, 2014
07:31 EDTUNFIUnited Natural Foods to acquire Tony's Fine Foods for approx. $195.3M
United Natural Foods announced that it had entered into a definitive agreement to acquire all of the stock of Tony’s Fine Foods, a distributor of perishable food products including a wide array of specialty protein, cheese, deli, food service and bakery goods throughout the Western United States, as well as Alaska and Hawaii. Founded in 1934 by the Ingoglia family, Tony’s products are sold primarily to retail and specialty grocers, food service customers and other distribution companies. The total purchase price for the acquisition of the business and related real estate is expected to be approximately $195.3M, subject to certain post-closing adjustments, and will consist of approximately $187.8M in cash and approximately 112,000 shares of the company’s common stock. The shareholders of Tony’s will utilize a portion of the proceeds to pay off all of Tony’s’ existing indebtedness as of the closing. The company expects to finance the cash portion of the purchase price with a combination of available cash and borrowings under its revolving credit facility, which it amended yesterday to, among other things, increase the aggregate amount of availability by $100M. A portion of the borrowings under the revolving credit facility are expected to be refinanced into an approximately $150M real-estate backed term loan facility that the company anticipates it will enter into in 4Q114 or 1Q15.
News For UNFI From The Last 14 Days
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July 18, 2014
16:17 EDTUNFIUnited Natural Foods files to sell 111,887 shares of common stock for holders
July 16, 2014
10:00 EDTUNFIOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Airlines (AAL) initiated with an Overweight at Atlantic Equities... Apple (AAPL) initiated with a Buy at Citigroup... Basic Energy (BAS) initiated with a Neutral at RW Baird... Brookdale Senior Living (BKD) initiated with a Buy at Goldman... CA Technologies (CA) initiated with a Market Perform at FBR Capital... Dresser-Rand (DRC) initiated with a Neutral at RW Baird... Fortinet (FTNT) initiated with a Neutral at Goldman... Frank's International (FI) initiated with a Hold at Jefferies... Home Bancorp (HBCP) initiated with an Outperform at Fig Partners... Key Energy (KEG) initiated with an Outperform at RW Baird... McDermott (MDR) initiated with a Neutral at Tigress Financial... ORBCOMM (ORBC) initiated with a Neutral at Macquarie... Oil States (OIS) initiated with an Outperform at RW Baird... PBF Energy (PBF) initiated with an Equal Weight at Barclays... Palo Alto (PANW) assumed with a Conviction Buy at Goldman... Proofpoint (PFPT) initiated with a Buy at Goldman... Qlik Technologies (QLIK) initiated with a Market Perform at FBR Capital... Radius Health (RDUS) initiated with a Buy at Canaccord... Seventy Seven Energy (SSE) initiated with a Hold at Jefferies... Superior Energy (SPN) initiated with an Outperform at RW Baird... Tandem Diabetes (TNDM) initiated with an Outperform at William Blair... Trecora Resources (TREC) initiated with a Buy at B. Riley... Ultragenyx (RARE) initiated with an Outperform at RW Baird... United Natural Foods (UNFI) initiated with an Outperform at Oppenheimer... Viper Energy (VNOM) initiated with a Market Perform at Northland... Whiting Petroleum (WLL) initiated with a Buy at Tigress Financial.
July 15, 2014
16:10 EDTUNFIUnited Natural Foods initiated with an Outperform at Oppenheimer
Target $75.

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