23.10.2015 15:32:42
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Kellogg Reportedly In Late-stage Talks To Buy Diamond Foods For About $1.5 Bln
(RTTNews) - Cereal maker Kellogg Co. (K) is in late-stage talks to acquire Snack food company Diamond Foods Inc. (DMND) for more than $1.5 billion, the New York Post reported.
DMND is currently trading at $34.97, up $2.14 or 6.52%.
A price would be more than $1.5 billion or $35 to $40 per share, the report said.
If the talks result in a deal, Kellogg, whose cereal lineup includes Frosted Flakes, Froot Loops and Rice Krispies, would further transition toward snack foods.
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