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Pinnacle-ConAgra merger speculation picks up again

May 21, 2018 8:38 AM ETPinnacle Foods (PF) StockCAG, PFBy: Clark Schultz, SA News Editor7 Comments
  • Investment bankers from Evercore Partners are digging around at Pinnacle Foods (NYSE:PF), according to New York Post.
  • The development follows pressure from activist firm Jana Partners on Pinnacle management to pursue a merger with ConAgra Brands (NYSE:CAG).
  • Jana has a 9.5% stake in Pinnacle.
  • Last month, Stephens said Pinnacle Foods could be worth as much as $85 in a takeover scenario.
  • Shares of Pinnacle are up 2.72% in premarket trading to $64.93.

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