Diamond Foods' Pringles Purchase Clears Antitrust Hurdle
08/03/2011 - San Francisco, CA - Diamond Foods, Inc. (Nasdaq:DMND) today announced that The Antimonopoly Committee of Ukraine has granted its approval to Diamond Foods, Inc. for its pending acquisition of the Pringles business from The Procter & Gamble Company. Earlier this summer Diamond received clearances from the United States, the United Kingdom and German authorities. With today's announcement, Diamond has received all antitrust clearances required for the transaction.
On April 5, 2011, Diamond Foods announced the signing of a definitive agreement to acquire the Pringles business from The Procter & Gamble Company in a Reverse Morris Trust transaction valued at $2.35 billion. The transaction, expected to close by the end of this calendar year, remains subject to the satisfaction of other closing conditions, including approval of Diamond's stockholders.
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