Hillshire Brands Co. said it agreed to buy Pinnacle Foods Inc. for about $6.6 billion including debt to diversify its food offerings.
The transaction will result in a payment of $18 in cash for each Pinnacle Foods share plus 0.5 shares of Hillshire Brands stock, Chicago-based Hillshire said today in a statement. The purchase reflects a multiple of 9.6 times adjusted earnings before interest, taxes, depreciation and amortization, the company said.
Bloomberg
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