BMO Capital Downgrades Pinnacle Foods (PF) to Market Perform
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May 13, 2014 6:50 AM EDT
Stifel Nicolaus downgraded Pinnacle Foods (NYSE: PF) from Buy to Hold.
For an analyst ratings summary and ratings history on Pinnacle Foods click here. For more ratings news on Pinnacle Foods click here.
Shares of Pinnacle Foods closed at $34.47 yesterday.
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May 12, 2014 6:32 AM EDT
Hillshire Brands (NYSE: HSH) and Pinnacle Foods Inc. (NYSE: PF) announced that they have entered into a definitive agreement under which Hillshire Brands will acquire all outstanding shares of Pinnacle Foods in a cash and stock transaction. Under the terms of the agreement, each share of Pinnacle Foods common stock will be exchanged for $18.00 in cash and 0.50 shares of Hillshire Brands common stock. The total enterprise value of the transaction is approximately $6.6 billion, including Pinnacle Foods outstanding net debt, which reflects an adjusted EBITDA multiple of 9.6x. The transaction brings... More
