Diamond Foods Receives Final Anti-Trust Clearance on Pringles Acquisition

August 03, 2011
Source
Diamond Foods News
Diamond Foods, Inc. (Nasdaq:DMND) today announced that The Antimonopoly Committee of Ukraine has granted its approval to Diamond Foods, Inc. for its pending acquisition of the Pringles business from The Procter &Gamble Company. Earlier this summer Diamond received clearances from U.S., U.K.and German authorities. With today's announcement, Diamond has received all antitrust clearances required for the transaction.

On April 5, 2011, Diamond Foods announced the signing of a definitive agreement to acquire the Pringles business from The Procter &Gamble Company in a Reverse Morris Trust transaction valued at $2.35 billion. The transaction, expected to close by the end of this calendar year, remains subject to the satisfaction of other closing conditions, including approval of Diamond's stockholders.
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Highlighted Company

  • Diamond Foods, Inc.

    Headquartered in Stockton, California, Diamond Foods is the premier processor and marketer of culinary, inshell snack and ingredient nuts, with distribution in over 80% of U.S. supermarkets.

  • Procter and gamble

    Procter and Gamble is a multinational manufacturer of product ranges including personal care, household cleaning, laundry detergents and others. For many years it was the manufacturer and marketer of the stackable potato chips brand Pringles, which was subsequently sold to the Kellogg Company.

  • Pringles

    Pringles is a brand of potato and wheat-based stackable snack chips, owned by the Kellogg Company.

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