Hormel Foods Corp, the maker of Spam canned ham, said it will acquire the Skippy peanut butter business from Unilever Plc for about $700 million. The company said it expects the deal to modestly add to its fiscal 2013 results.
Hormel Foods Corporation is primarily engaged in the production of a variety of meat and food products and the marketing of those products throughout the United States and internationally. Shares of HRL remained unchanged at $32.01. In the past year, the shares have traded as low as $27.28 and as high as $32.02. On average, 801677 shares of HRL exchange hands on a given day and today's volume is recorded at 0.
Unilever PLC (PLC), is a supplier of fast moving consumer goods. Shares of UL remained unchanged at $39.01. In the past year, the shares have traded as low as $30.85 and as high as $39.55. On average, 1204260 shares of UL exchange hands on a given day and today's volume is recorded at 0.
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