Fly News Breaks for March 12, 2015
GIS, PF
Mar 12, 2015 | 09:54 EDT
Reuters reported yesterday that General Mills (GIS) is considering a sale of its Green Giant vegetable business. Credit Suisse believes the brand would fit well in Pinnacle Foods' (PF) portfolio and provides synergies with the Birds Eye brand. The firm said a $1.4B all-debt transaction by Pinnacle would provide 36c in earnings accretion before synergies and would likely not present any major anti-trust concerns. Share of Pinnacle are Outperform rated with a $39 price target.
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