USA/AUSTRALIA: Campbell says to buy leading snack food brands in Australia
Campbell Soup Co, the Camden, NJ-based food giant, has said that its Australian subsidiary, Arnott's Biscuits Holdings, is to make a cash offer of A$2 (US$1.15) per share for all of the shares of Snack Foods Ltd, a leader in the Australian salty snack category. Under the terms of the offer, Snack Foods' shareholders will also receive a dividend of A$0.025 per share, previously paid in October, from Snack Foods. The acquisition will be in the form of an all-cash tender offer, and the total consideration for the shares would be about A$255m.
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