Pinnacle Foods (PF) is long from $32.50. The buyout offer has a value of $67.92 based on the closing price of Conagra Brands (CAG). This represents a return of 109%.
From the beginning we have been sharing with you that in our analysis PF is a buyout target. Now the buyout offer is here. CAG will buy PF for $43.11 per share in cash and 0.6494 shares of CAG.
CAG stock is trading lower on the news. For this reason, PF stock will also trade lower.
What To Do Now
Consider tendering your shares to CAG through your broker.