ConAgra Foods (CAG) Declines to Comment on 'Speculation'

October 14, 2016 3:23 PM EDT

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(Updated - October 14, 2016 3:28 PM EDT)

ConAgra Foods (NYSE: CAG), in an email to StreetInsider, declined to comment on speculation that it could acquire Pinnacle Foods (NYSE: PF).

"We don't comment on rumor or speculation," a spokesperson said.

The potential takeover was discussed earlier in a research note at RBC Capital. Specifically, analyst David Palmer argued that ConAgra could pursue a large-scale acquisition, and he thinks Pinnacle is the most likely candidate.

(Update notes comments were from ConAgra, not Pinnacle Foods.

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