Pinnacle Foods’s $10.9 Billion Acquisition by Conagra Brands

On June 27, 2018, Pinnacle Foods Inc. (“Pinnacle Foods”) and Conagra Brands, Inc. (“Conagra Brands”) announced that they have entered into a definitive agreement under which Conagra Brands will acquire all outstanding shares of Pinnacle Foods in a cash and stock transaction valued at approximately $10.9 billion, including Pinnacle Foods’s outstanding net debt. Cravath is representing Pinnacle Foods in connection with the transaction.

The Cravath team is led by partner Robert I. Townsend III and includes associates C. Daniel Haaren, Matthew L. Ploszek, Devon A. Klein, Stephanie M. Park, Kathryn-Ann Stamm and Anthony J. Ramirez on M&A matters; partner Eric W. Hilfers and associate Christopher C. Gonnella on executive compensation and benefits matters; partners Christine A. Varney and Margaret Segall D’Amico and associate A. Maya Khan on antitrust matters; partner Matthew Morreale and senior attorney Annmarie M. Terraciano on environmental matters; partner J. Leonard Teti II and associates Arvind Ravichandran and Rory M. Minnis on tax matters; and partner Craig F. Arcella and associate Virginie Marier on securities matters. Summer associates Yasmina Abdel-Malek and Karan Zoria also worked on M&A matters, and summer associate Christopher M. Hurley also worked on antitrust matters.