December 15, 2017 / 10:07 PM / 7 months ago

Campbell Soup in advanced talks to buy snacks maker Snyder's-Lance: CNBC

(Reuters) - Campbell Soup Co (CPB.N) is in advanced talks to acquire snacks maker Snyder’s-Lance Inc LNCE.O, a deal which could be announced as early as next week, CNBC reported on Friday, citing sources familiar with the situation.

FILE PHOTO - Cans of Campbell's Soup are displayed in a supermarket in New York City, U.S. February 15, 2017. REUTERS/Brendan McDermid

The deal could value the Pretzels and Cape Cod chips maker at about $50 per share, CNBC reported. (cnb.cx/2olQBIK)

At $50, a deal would value Snyder’s at about $4.87 billion.

The offer represents a 27 percent premium to Snyder’s close on Wednesday, a day before CNBC first reported that the company had hired an investment bank to weigh a potential sale following an approach from Campbell.

Snyder’s shares, which hit a record-high of $47.56 in regular trading, were up 4.8 percent at $49.02 in aftermarket trade on Friday.

Snyder’s was not available for comment outside of its business hours on Friday. Campbell said the company does not comment on rumor or speculation.

Campbell’s push into snacks comes as the company struggles with declining soup sales in the United States and competition from private label brands.

Reporting by Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below