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Hillshire to buy Pinnacle Foods for $6.6 billion

[May 12, 2014]   (Reuters) —  Packaged food company Hillshire Brands Co said it would acquire Pinnacle Foods Inc. for about $6.6 billion, including debt, in a cash and stock deal.

Hillshire said the implied purchase price based on the 10-day average closing price is $36.02 per share and represents an 18 percent premium to Pinnacle Foods' closing price on May 9.

(Reporting by Siddharth Cavale in Bangalore; Editing by Saumyadeb Chakrabarty)

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