Snack Food Combination Gets FTC Approval
August 19, 2010 | 1 min to read
Snack makers Lance Inc. and Snyder's of Hanover Inc. said Wednesday that their combination received regulatory approval from the Federal Trade Commission.
The two announced the all-stock transaction last month, which would leave shareholders of the privately held Snyder with 50.1 percent and Lance shareholders 49.9 percent of the combined company that will be called Snyder's-Lance Inc.
Specific terms were not released, but Lance shareholders are also set to receive a $3.75 special cash dividend at the close of the combination.
The new company will be based in Charlotte.
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