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Conagra one step closer to Pinnacle acquisition

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Conagra Foods and Pinnacle Foods announced Thursday that the waiting period required for Conagra’s purchase of Pinnacle under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired.

The expiration of the waiting period is one of the conditions needed for the completion of the transaction.

The brands announced on June 27 that Conagra would buy the Parsippany-based company in a cash-and-stock deal valued at about $10.9 billion, including $2.7 billion in debt assumption.

The transaction is expected to close by the end of the year, subject to other customary closing conditions including approval by stockholders of Pinnacle Foods.

Pinnacle and Conagra did not return requests for comment by press time.

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Jessica Perry

Jessica Perry

Jessica is the Web Editor for NJBIZ. You can reach her at jperry@njbiz.com.

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