TreeHouse Foods posts first quarter loss on integration costs
TreeHouse Foods reports a first quarter net loss of 3.3 million or 6 cents per share as acquisition and restructuring costs weigh on results. Net sales rise 62.2 percent to 1.3 billion due to ConAgra private brands integration, with lower volume and product mix offsetting gains. The Oak Brook, Illinois firm notes progress integrating the private brands unit and cites a $2.7 billion cash deal plus expenses to acquire ConAgra’s private brands segment.
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Tribune rejects Gannett takeover bid
Tribune Publishing board unanimously rejects Gannett unsolicited offer and commits to a strategic plan to revive print and grow digital content. Gannett valued the deal at about 815 million dollars at 12.25 dollars per share, prompting Tribune to state the proposal understates value and warrants no further discussion.
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