Pinnacle Foods Inc. Buyback
OLI recorded this information on 11/18/2014
Pinnacle Foods Inc.
Shares Announced Repurchased:
Pinnacle Foods Inc. (NYSE: PF) today announced that certain of its stockholders intend to offer for sale in an underwritten secondary offering 20 million shares of the Company's common stock. Conditional upon and concurrent with the closing of the offering, Pinnacle plans to repurchase one million shares of its common stock from affiliates of Blackstone at the net offering price in a private, non-underwritten transaction.
Pinnacle Foods is a holding company. Co. is a manufacturer, marketer and distributor of convenience food products. Co.'s operations are managed and reported in four operating segments: frozen, which is comprised of the retail businesses of Co.'s legacy frozen brands, including vegetables, complete bagged meals, frozen dinners and entrees, among others; grocery, which is comprised of the retail businesses of Co.'s grocery brands; boulder, which is comprised of the retail businesses of Co.'s health and wellness lifestyle brands; and specialty, which includes Co.'s snack products (Tim's Cascade and Snyder of Berlin) and all of its U.S. foodservice and private label businesses.
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Hold (2.31 out of 4)
(ranked higher than approx. 86% of all stocks covered)
Based on Zacks ABR data;
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