Diamond Foods (DMND) Sees a Relief Rally After Pringles Deal Killed
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The reason for the initial upside reaction in Diamond Foods, Inc. (Nasdaq: DMND) following news Procter & Gamble (NYSE: PG) and the company are terminating the acquisition of the Pringles brand could be two-fold.
1. It was well priced in that the deal would be killed.
2. No "break-up" or other fees will be paid in connection with this termination
Shares of DMND are up 6.3%.
1. It was well priced in that the deal would be killed.
2. No "break-up" or other fees will be paid in connection with this termination
Shares of DMND are up 6.3%.
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