Unilever wins Bestfoods

Tuesday June 06 by Claudia bournecnn
Unilever PLC agreed Tuesday to purchase Bestfoods, maker of Skippy peanut butter, Hellmann's mayonnaise and Knorr soups, for $24.3 billion in cash and debt, creating the world's leading packaged food company. The Anglo-Dutch consumer goods maker said it would pay $73 per share in cash for the Englewood, N.J.-based Bestfoods, valuing the company at $20.3 billion. Unilever will also assume roughly $4 billion in Bestfoods debt. Bestfoods shares soared shortly after the deal was announced, jumping 6-1/4 to 69-1/4, while Unilever's American depositary receipts climbed 9/16 to 50-15/16.





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