Diamond Foods (DMND) Announces Expiration of Hart-Scott Rodino Act in Pending Acquisition of Pringles
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Diamond Foods, Inc. (Nasdaq: DMND) announced that the waiting period for U.S. antitrust review under the Hart-Scott Rodino Antitrust Improvements Act of 1976 for Diamond Foods' pending acquisition of the Pringles business from The Procter & Gamble Company expired on June 20, 2011.
The pending acquisition remains subject to regulatory approval by competition authorities in various jurisdictions outside the United States.
On April 5, 2011, Diamond Foods announced the signing of a definitive agreement to acquire the Pringles business from The Procter & Gamble Company (NYSE: PG) in a Reverse Morris Trust transaction valued at $2.35 billion. The transaction, expected to close by the end of this calendar year, is also subject to satisfaction of other conditions including approval by Diamond's stockholders.
The pending acquisition remains subject to regulatory approval by competition authorities in various jurisdictions outside the United States.
On April 5, 2011, Diamond Foods announced the signing of a definitive agreement to acquire the Pringles business from The Procter & Gamble Company (NYSE: PG) in a Reverse Morris Trust transaction valued at $2.35 billion. The transaction, expected to close by the end of this calendar year, is also subject to satisfaction of other conditions including approval by Diamond's stockholders.
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