Mrs. Paul's, Van de Camps seafood brands to remain with Pinnacle as Hillshire Brands pulls offer
SEAFOODNEWS.COM [SCOM] June 16, 2014
Hillshire Brands announced that its board of directors has unanimously determined to withdraw its recommendation of the pending acquisition of Pinnacle Foods Inc, ending a deal that would have placed the Mrs. Paul's and Van de Camps seafood brands under the Hillshire's umbrella.
In light of the previously disclosed $63.00 per share all-cash unilaterally-binding proposal from Tyson Foods, Inc. to acquire Hillshire Brands, and after consultation with outside legal counsel, the Hillshire Brands board determined that it would be inconsistent with their duties as directors of Hillshire Brands to fail to withdraw its recommendation of the Pinnacle Foods acquisition...
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