Hillshire Brands withdraws recommendation of pending merger with Pinnacle Foods
date:Jun 18, 2014
to terminate the merger agreement and instead requires Hillshire Brands stockholders to vote on the Pinnacle Foods transaction, and Hillshire Brands stockholders vote to reject it, Hillshire Brands will then be entitled to terminate the merger agreement with Pinnacle Foods, and Pinnacle Foods may be entitled to receive a termination fee in the amount of $43 million followed by an additional $120 million under certain circumstances.
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