date:May 12, 2014
food ingredient channels. Under the terms of the agreement, Post will acquire Michael Foods for $2.45 billion on a cash-free, debt-free basis, subject to working capital and other adjustments. The acquisition is expected to be completed in the second calendar quarter of 2014, Post's fiscal third quarter, subject to various closing conditions.
Concurrent with the signing of the agreement, Post obtained financing commitments under which various lenders have committed to provide up to $1.765 bill