Snyder's-Lance Inc logo

LNCE - Snyder's-Lance Inc News Story

$49.98 0.0  0.0%

Last Trade - 23/03/18

Sector
Consumer Defensives
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £1.67bn
Position in Universe th / 7302

BRIEF-Campbell To Acquire Snyder'S-Lance, Inc For $4.87 bln

Mon 18th December, 2017 12:30pm
Dec 18 (Reuters) - Snyder's-Lance Inc  LNCE.O : 
    * CAMPBELL TO ACQUIRE SNYDER'S-LANCE, INC. TO EXPAND IN 
FASTER-GROWING SNACKING CATEGORY 
    * SNYDER'S-LANCE INC - DEAL FOR $50.00 PER SHARE IN AN 
ALL-CASH 
TRANSACTION 
    * SNYDER'S-LANCE INC - EXPECTS APPROXIMATELY $170 MILLION 
IN COST 
SYNERGIES BY END OF FISCAL 2022 
    * SNYDER'S-LANCE INC - CAMPBELL PLANS TO FINANCE ACQUISITION 
THROUGH $6.2 BILLION OF DEBT COMPRISING A COMBINATION OF 
LONG-TERM AND SHORT-TERM DEBT 
    * SNYDER'S-LANCE INC - EXPECTS APPROXIMATELY $170 MILLION 
IN COST 
SYNERGIES BY END OF FISCAL 2022 FROM DEAL 
    * SNYDER'S-LANCE INC - CAMPBELL'S ANNUAL NET SALES EXPECTED 
TO 
EXCEED $10 BILLION 
    * SNYDER'S-LANCE INC - ACQUISITION EXPECTED TO BE ACCRETIVE 
TO 
CAMPBELL'S EARNINGS PER SHARE IN FISCAL 2019 
    * SNYDER'S-LANCE INC - SNYDER'S-LANCE WILL BECOME PART OF 
CAMPBELL'S GLOBAL BISCUITS AND SNACKS DIVISION 
    * SNYDER'S-LANCE INC - CAMPBELL WILL SUSPEND SHARE 
REPURCHASES TO 
MAXIMIZE FREE CASH FLOW FOR PURPOSES OF PAYING DOWN DEBT 
    * SNYDER'S-LANCE INC - CAMPBELL ALSO EXPECTS TO MAINTAIN 
ITS 
CURRENT DIVIDEND POLICY 
    * SNYDER'S-LANCE INC - SOME MEMBERS OF WAREHIME FAMILY, WHO 
OWN 
13.2 PERCENT OF CO'S STOCK, HAVE AGREED TO VOTE THEIR SHARES IN 
SUPPORT OF DEAL 
    * SNYDER'S-LANCE INC -  ACQUISITION HAS BEEN APPROVED BY 
BOARDS 
OF DIRECTORS OF BOTH COMPANIES 
    * SNYDER'S-LANCE -WITH ADDITION OF CO'S COMPLEMENTARY 
PORTFOLIO, 
SNACKING WOULD REPRESENT ABOUT 46 PERCENT OF CAMPBELL'S ANNUAL 
NET SALES ON PRO FORMA BASIS 
    * SNYDER'S-LANCE INC -  CAMPBELL'S SOUP PORTFOLIO WOULD 
REPRESENT 
APPROXIMATELY 27 PERCENT OF COMPANY'S ANNUAL NET SALES 
 
Source text for Eikon:  ID:nBw750LH9a  
Further company coverage:  LNCE.O  
 
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