31st Oct 2018 09:31
LONDON (Alliance News) - Equiniti Group PLC said Wednesday it was appointed by Conagra Brands Inc as exchange agent in relation of its acquisition of Pinnacle Foods Inc.
The FTSE 250-listed company, which provides payment services and financial administration technology, administered the USD10.9 billion acquisition, which it said was one of the largest corporate actions in the US in 2018.
The acquisition sum consisted of cash, shares and debt, with the cash and share element involving EQ US, Equiniti's US division, transferring USD5.1billion in cash and 77.5 million shares from Conagra to Pinnacle Foods' shareholders.
EQ US was formed in February when Equiniti bought Wells Fargo Shareowner Services from US bank Wells Fargo & Co.
"We are delighted that Conagra chose Equiniti to support it in this significant transaction. Our reputation for high quality service and execution means EQ US works with the largest corporations in America and is consistently involved the largest corporate actions in the world's largest capital market," Chief Executive Officer of EQ US Todd May said.
Equiniti shares were trading up 0.5% at 219.00 pence each on Wednesday.
Related Shares:
EQN.L