Hillshire Brands withdraws recommendation of pending merger with Pinnacle Foods
date:Jun 18, 2014
ld no longer constitute a Superior Proposal. Pinnacle Foods made no such proposal.

Under the terms of the merger agreement with Pinnacle Foods, as a result of this change in recommendation, Pinnacle Foods may terminate the merger agreement. The merger agreement provides that if Pinnacle Foods terminates the merger agreement prior to a vote of Hillshire Brands stockholders, Pinnacle Foods may be entitled to receive a termination fee in the amount of $163 million.

If Pinnacle Foods elects not

05/03 08:36