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Diamond Foods, Inc. Message Board

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  • lawstuff22 lawstuff22 Feb 9, 2012 11:31 PM Flag

    In case you forget...

    Accretive combination makes Diamond the number two global player in savory snack category
    SAN FRANCISCO, CA and CINCINNATI, OH (April 5, 2011) -- Diamond Foods, Inc. (NASDAQ: DMND) and The Procter & Gamble Company (NYSE: PG) today announced the signing of a definitive agreement to merge the Pringles business ("Pringles") into Diamond Foods in a transaction valued at $2.35 billion.
    “Pringles is an iconic, billion dollar snack brand with significant global manufacturing and supply chain infrastructure,” said Michael J. Mendes, Chairman, President and CEO of Diamond Foods. “Our plan is to build upon the brand equity Pringles has established in over 140 countries. This strategic combination will create an independent, global leader in the snack industry with a focus on quality and innovative products. Not only is this combination immediately accretive, it also creates a platform that we believe will allow us to build shareholder value for years to come.”
    “We are confident Diamond Foods will be an excellent new home for our Snacks employees,” said Bob McDonald, Chairman of the Board, President and Chief Executive Officer of P&G. “This is also a terrific deal for our shareholders – maximizing value and minimizing earnings per share dilution.”

37.56+0.36(+0.97%)Feb 26 4:00 PMEST