US: Dean Foods looks to raise US$394m in offering
Dean Foods Company has announced the pricing of its previously announced offering of 22,500,000 shares of its common stock at a price to the public of $18.25 per share.
The company expects to receive net proceeds from the offering of approximately US$394m, which it intends to use to repay the $122.8m aggregate principal amount of its subsidiary's 6.625% senior notes due 15 May 2009, and use the remaining net proceeds to repay indebtedness under its receivables-backed facility.
The company has granted the underwriters a 30-day option to purchase up to an additional 3,375,000 shares of its common stock to cover overallotments, if any. The offering is being conducted as a public offering pursuant to an effective registration statement under the Securities Act of 1933.
The offering is expected to close on May 11, 2009, subject to customary closing conditions.
US dairy giant Dean Foods plans to boost the number of soy food products it sells in the US in the wake of its acquisition of Belgium's Alpro, the company said today (15 June)....
Some in the beleaguered dairy industry will have taken comfort from recent signs that milk and dairy prices on the global commodities market have started to pick up. However, the question of whether t...
Dean Foods booked strong second-quarter earnings this week and said that it is on track to deliver cost savings of US$300m over the next three years. However, the US dairy giant's management sounded a...
Wessanen, the Dutch food group, has successfully offloaded its German frozen meat business Karl Kemper....
Wessanen, the Dutch food group, is looking to sell two frozen food units, Karl Kemper and Righi, as part of an ongoing plan to focus on speciality and organic food in Europe....
Soy product producer WhiteWave has defended its products following a complaint by the Cornucopia Institute over alleged "misleading" claims....
Dean Foods has promoted Joseph Scalzo to the new position of chief operating officer....
US organic farming group The Cornucopia Institute has filed a complaint against US retailer Target Corp. over the alleged "misleading" sale of organic products....
- How Danone aims to meet its 2020 objectives
- Greencore's food-to-go focus paying dividends
- Interview: Ritter sees growth potential in US, EU
- Will Belvita win at breakfast in China? - analysis
- Interview: How American Halal rides ethical wave
- Pinnacle to buy Boulder Brands in $975m deal
- Genius Foods buys UK gluten-free firm Chapel Foods
- Nestle combats Thai seafood supply forced labour
- Greencore profits lifted by on-the-go food focus
- Nestle to sell Jamaican dairy unit