reports
The Law Offices of Vincent Wong Reminds Investors of an Investigation ...
NEW YORK--(BUSINESS WIRE)-- The Law Offices of Vincent Wong are investigating the Board of Directors of Snyder’s-Lance (NASDAQ:LNCE) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Campbell Soup Company (NYSE:CPB) Under the terms of the deal, Snyder’s-Lance shareholders will receive $50 for each Snyder’s-Lance share they own. The investigation concerns whether the Snyder’s-Lance Board of Directors breached their fiduciary duties to Snyder’s-Lance stockhol...
SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation of S...
WILMINGTON, Del.--(BUSINESS WIRE)-- Rigrodsky & Long, P.A.: Do you own shares of Snyder’s-Lance, Inc. (NASDAQ GS: LNCE)? Did you purchase any of your shares prior to December 18, 2017? Do you think the proposed buyout is fair? Do you want to discuss your rights? Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Snyder’s-Lance, Inc. (“Snyder’s-Lance” or the “Company”) (NASDAQ GS: LNCE) ...
The Law Offices of Vincent Wong Notifies Investors of an Investigation...
NEW YORK--(BUSINESS WIRE)-- The Law Offices of Vincent Wong are investigating the Board of Directors of Snyder’s-Lance (NASDAQ:LNCE) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Campbell Soup Company (NYSE: CPB). Under the terms of the deal, Snyder’s-Lance shareholders will receive $50 for each Snyder’s-Lance share they own. The investigation concerns whether the Snyder’s-Lance Board of Directors breached their fiduciary duties to Snyder’s-Lance stockh...
INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Investors of an Investig...
NEW YORK--(BUSINESS WIRE)-- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Snyder’s-Lance (“Snyder’s-Lance” or the “Company”) (NASDAQ: LNCE) stock prior to December 18, 2017. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Snyder’s-Lance to Campbell Soup Company (NYSE: CPB) for $50 per share. To learn more about the action and your rights, go to: http://www.zlk.com/mna/snyder...
Snyder’s-Lance, Inc. Shareholder Alert: Former SEC Attorney Willie B...
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe is investigating potential claims against the Board of Directors of Snyder’s-Lance, Inc. (“Snyder’s-Lance”) (NasdaqGS: LNCE) concerning the merger with Campbell Soup Company. Under the terms of the agreement, Snyder’s-Lance shareholders will only receive $50.00 per Snyder’s-Lance share held. If you are an affected investor, and you want to learn more about the investigation or if you have information that you believe woul...
- Zain Akbari
- CFA
From Soup to Nuts: Campbell Diversifies With Deal for Snyder's-Lance
Wide-moat Campbell Soup has announced a $6 billion cash deal to buy no-moat Snyder's-Lance for $50 per share. We don't plan a material change to our $53 valuation for the acquirer and expect to lift our estimate for the target to $49 (the present value of the offer, assuming an early April close) from $35.50. The offer corresponds to 20 times adjusted EBITDA and nearly 13 times including targeted synergies, including planned achievement of about $125 million of Snyder’s-Lance’s ongoing $175 ...
- Zain Akbari
- CFA
From Soup to Nuts: Campbell Diversifies With Deal for Snyder's-Lance
Wide-moat Campbell Soup has announced a $6 billion cash deal to buy no-moat Snyder's-Lance for $50 per share. We don't plan a material change to our $53 valuation for the acquirer and expect to lift our estimate for the target to $49 (the present value of the offer, assuming an early April close) from $35.50. The offer corresponds to 20 times adjusted EBITDA and nearly 13 times including targeted synergies, including planned achievement of about $125 million of Snyder’s-Lance’s ongoing $175 ...
SNYDER’S-LANCE, INC. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Annou...
WILMINGTON, Del.--(BUSINESS WIRE)-- Rigrodsky & Long, P.A.: Do you own shares of Snyder’s-Lance, Inc. (NASDAQ GS: LNCE)? Did you purchase any of your shares prior to December 18, 2017? Do you think the proposed buyout is fair? Do you want to discuss your rights? Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Snyder’s-Lance, Inc. (“Snyder’s-Lance” or the “Company”) (NASDAQ GS: LNCE) ...
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Inve...
NEW YORK--(BUSINESS WIRE)-- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Snyder’s-Lance (“Snyder’s-Lance” or the “Company”) (NASDAQ: LNCE) stock prior to December 18, 2017. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Snyder’s-Lance to Campbell Soup Company (NYSE: CPB) for $50 per share. To learn more about the action and your rights, go to: http://www.zlk.com/mna/snyder...
ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of Snyder...
NEW YORK--(BUSINESS WIRE)-- Rowley Law PLLC is investigating potential claims against Snyder’s-Lance, Inc. (NASDAQ: LNCE) and its board of directors for breach of fiduciary duty concerning the proposed acquisition of the company by Campbell Soup Company. Shareholders will receive $50.00 in cash for each share of Snyder’s-Lance, Inc. they hold. The transaction is valued at approximately $4.8 billion and is expected to close early in the second quarter of 2018. If you are a shareholder of Snyder’s-Lance, Inc. and are interested...
- Zain Akbari
- CFA
Snyder’s-Lance Shareholders Could Benefit From an Acquisition as Rum...
Media reports that no-moat Snyder’s-Lance has hired advisors to evaluate sale options after an approach from wide-moat Campbell have lifted its shares. While we believe the firm’s brands could draw an attractive bid, we are not altering our $35.50 per share fair value estimate at this time as we do not have any insight as to whether a deal will materialize. The reports, which indicate talks are continuing with Campbell and one unnamed suitor, are consistent with our view that large food ma...
- Zain Akbari
- CFA
Brand investment and efficiencies should boost Snyder’s-Lance’s pe...
We have a more tempered reaction to no-moat Snyder’s-Lance’s third-quarter earnings than prevailing sentiment and are unlikely to make a large change to our $35.50 per share valuation. Our full-year marks ($2.23 billion in revenue, $313 million in adjusted EBITDA, and $1.14 adjusted diluted EPS) were below the most optimistic estimates and are consistent with revised guidance, calling for $2.205 billion to $2.255 billion in revenue, $305 million to $320 million in adjusted EBITDA, and $1.12...
- Zain Akbari
- CFA
No Large Change to Our Outlook for Snyder’s-Lance After Third-Quarte...
We have a more tempered reaction to no-moat Snyder’s-Lance’s third-quarter earnings than prevailing sentiment and are unlikely to make a large change to our $35.50 per share valuation. Our full-year marks ($2.23 billion in revenue, $313 million in adjusted EBITDA, and $1.14 adjusted diluted EPS) were below the most optimistic estimates and are consistent with revised guidance, calling for $2.205 billion to $2.255 billion in revenue, $305 million to $320 million in adjusted EBITDA, and $1.12...
- Zain Akbari
- CFA
Efficiency improvements should boost profitability and fuel brand inve...
We plan a high-single-digit increase for our $32.50 per share valuation for no-moat Snyder's-Lance after it posted strong quarterly results that indicate its turnaround is ahead of schedule. While we expect to lift our fiscal 2018-20 outlook, our long-term targets, calling for 3% top-line growth and low-teens adjusted operating margins, are intact. We see the shares as a touch rich; we suspect our more cautious view of the company's brand strength is the primary source of the discrepancy. In the...
- Zain Akbari
- CFA
Turnaround Ahead of Schedule at Snyder's-Lance; Shares a Touch Rich
We plan a high-single-digit increase for our $32.50 per share valuation for no-moat Snyder's-Lance after it posted strong quarterly results that indicate its turnaround is ahead of schedule. While we expect to lift our fiscal 2018-20 outlook, our long-term targets, calling for 3% top-line growth and low-teens adjusted operating margins, are intact. We see the shares as a touch rich; we suspect our more cautious view of the company's brand strength is the primary source of the discrepancy. In the...
- Zain Akbari
- CFA
Consumer Products Sell Off After Amazon/Whole Foods Tie-Up; Shares Sti...
Consumer products firms (including household and personal-care and packaged-food firms) sold off early on June 16 (with most ticking down at a low- to mid-single-digit rate) in response to news that Amazon intends to acquire Whole Foods Market in a $14 billion all-cash transaction. While we understand the strategic rationale for the deal for Amazon--giving it an opportunity to gain a larger brick-and-mortar presence, as well as access to higher-quality fresh food, which helps its ambitions to ex...
- Zain Akbari
- CFA
Long-term health and snacking trends should help Snyder’s-Lance over...
We do not plan to significantly alter our $32 per share valuation for no-moat Snyder’s-Lance after it posted first-quarter results consistent with its mid-April guidance. The firm posted 19% sales growth (1%-2% pro forma expansion) alongside a 5% adjusted operating margin (versus 8% in 2016’s first quarter). Snyder’s-Lance reaffirmed its 2017 guidance, calling for $2.20 billion-$2.25 billion of sales, $290 million-$315 million of adjusted EBITDA, and $1.05-$1.20 of adjusted EPS (versus our...
- Zain Akbari
- CFA
No Change to Outlook After Snyder's-Lance Reports Earnings Consistent ...
We do not plan to significantly alter our $32 per share valuation for no-moat Snyder’s-Lance after it posted first-quarter results consistent with its mid-April guidance. The firm posted 19% sales growth (1%-2% pro forma expansion) alongside a 5% adjusted operating margin (versus 8% in 2016’s first quarter). Snyder’s-Lance reaffirmed its 2017 guidance, calling for $2.20 billion-$2.25 billion of sales, $290 million-$315 million of adjusted EBITDA, and $1.05-$1.20 of adjusted EPS (versus our...
- Zain Akbari
- CFA
Despite a soft start to 2017, long-term health and snacking trends are...
We plan to reduce our $33.50 per share fair value estimate for no-moat Snyder’s-Lance by about 5% after it reported preliminary first-quarter results, reduced 2017 guidance, and unexpectedly announced CEO Carl Lee’s retirement. While the lower 2017 expectations (which now call for $2.20 billion-$2.25 billion of revenue, $290 million-$315 million of adjusted EBITDA, and $1.05-$1.20 of adjusted EPS, versus our $2.25 billion, $336 million, and $1.38 targets) will lead us to revise our outlook, ...
- Zain Akbari
- CFA
Snyder’s-Lance Surprises With Lower Guidance, CEO Retirement; Shares...
We plan to reduce our $33.50 per share fair value estimate for no-moat Snyder’s-Lance by about 5% after it reported preliminary first-quarter results, reduced 2017 guidance, and unexpectedly announced CEO Carl Lee’s retirement. While the lower 2017 expectations (which now call for $2.20 billion-$2.25 billion of revenue, $290 million-$315 million of adjusted EBITDA, and $1.05-$1.20 of adjusted EPS, versus our $2.25 billion, $336 million, and $1.38 targets) will lead us to revise our outlook, ...
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