December 18, 2017 / 12:47 PM / 6 months ago

BRIEF-Campbell To Acquire Snyder’S-Lance, Inc For $4.87 bln

Dec 18 (Reuters) - Snyder's-Lance Inc:

* CAMPBELL TO ACQUIRE SNYDER’S-LANCE, INC. TO EXPAND IN FASTER-GROWING SNACKING CATEGORY

* SNYDER'S-LANCE INC - DEAL FOR ‍$50.00 PER SHARE IN AN ALL-CASH TRANSACTION​

* SNYDER'S-LANCE INC - ‍EXPECTS APPROXIMATELY $170 MILLION IN COST SYNERGIES BY END OF FISCAL 2022​

* SNYDER'S-LANCE INC - CAMPBELL PLANS TO FINANCE ACQUISITION THROUGH $6.2 BILLION OF DEBT COMPRISING A COMBINATION OF LONG-TERM AND SHORT-TERM DEBT

* SNYDER'S-LANCE INC - ‍EXPECTS APPROXIMATELY $170 MILLION IN COST SYNERGIES BY END OF FISCAL 2022 FROM DEAL​

* SNYDER'S-LANCE INC - ‍CAMPBELL'S ANNUAL NET SALES EXPECTED TO EXCEED $10 BILLION​

* SNYDER'S-LANCE INC - ‍ACQUISITION EXPECTED TO BE ACCRETIVE TO CAMPBELL'S EARNINGS PER SHARE IN FISCAL 2019​

* SNYDER'S-LANCE INC - ‍SNYDER'S-LANCE WILL BECOME PART OF CAMPBELL'S GLOBAL BISCUITS AND SNACKS DIVISION​

* SNYDER'S-LANCE INC - ‍CAMPBELL WILL SUSPEND SHARE REPURCHASES TO MAXIMIZE FREE CASH FLOW FOR PURPOSES OF PAYING DOWN DEBT​

* SNYDER'S-LANCE INC - ‍CAMPBELL ALSO EXPECTS TO MAINTAIN ITS CURRENT DIVIDEND POLICY​

* SNYDER'S-LANCE INC - SOME MEMBERS OF WAREHIME FAMILY, WHO OWN 13.2 PERCENT OF CO'S STOCK, HAVE AGREED TO VOTE THEIR SHARES IN SUPPORT OF DEAL

* SNYDER'S-LANCE INC - ‍ ACQUISITION HAS BEEN APPROVED BY BOARDS OF DIRECTORS OF BOTH COMPANIES​

* SNYDER'S-LANCE -WITH ADDITION OF CO'S COMPLEMENTARY PORTFOLIO, SNACKING WOULD REPRESENT ABOUT 46 PERCENT OF CAMPBELL'S ANNUAL NET SALES ON PRO FORMA BASIS​

* SNYDER'S-LANCE INC - ‍ CAMPBELL'S SOUP PORTFOLIO WOULD REPRESENT APPROXIMATELY 27 PERCENT OF COMPANY'S ANNUAL NET SALES​ Source text for Eikon: Further company coverage:

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