SunTrust Upgrades Lance, Inc. (LNCE) to Buy

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Go back to SunTrust Upgrades Lance, Inc. (LNCE) to Buy

Snyder's-Lance (LNCE) to Acquire Diamond Foods (DMND) in ~$1.9B Deal

October 28, 2015 6:08 AM EDT

Snyder's-Lance (NASDAQ: LNCE) and Diamond Foods, Inc. (NASDAQ: DMND) ("Diamond Foods" or "Diamond") today announced that they have entered into a definitive agreement under which Snyder's-Lance will acquire all outstanding shares of Diamond Foods in a cash and stock merger transaction for approximately $1.91 billion, including the assumption of approximately $640 million of indebtedness. Under the terms of the agreement, Diamond stockholders will receive 0.775 Snyder's-Lance shares and $12.50 in cash per Diamond Foods share upon closing of the transaction. The agreement has been approved by the Boards of Directors of both companies, who... More