Pinnacle Foods Inc. (NYSE: PF) stock jumped 15% Monday when the packaged foods company agreed to be acquired by Hillshire Brands Co. (NYSE: HSH). Hillshire will buy Pinnacle for roughly $4.3 billion in cash and stock.
Investors sent Pinnacle shares up to $36.22 in morning trading after closing at $30.45 Friday. More than 11.5 million shares changed hands by noon, compared to Pinnacle's average daily volume of 510,000 shares.
While Pinnacle (PF) stock soared on the deal, Hillshire shares weren't doing as well...
Pinnacle Foods Inc. (NYSE: PF) stock jumped 15% Monday when the packaged foods company agreed to be acquired by Hillshire Brands Co. (NYSE: HSH). Hillshire will buy Pinnacle for roughly $4.3 billion in cash and stock.
Investors sent Pinnacle shares up to $36.22 in morning trading after closing at $30.45 Friday. More than 11.5 million shares changed hands by noon, compared to Pinnacle's average daily volume of 510,000 shares.
While Pinnacle (PF) stock soared on the deal, Hillshire shares weren't doing as well...
