Pinnacle Foods Inc. (PF) announced Monday morning that it agreed to be acquired by Hillshire Brands (HSH) in a cash and stock transaction valued at approximately $6.6 billion.
Pinnacle Foods gapped open sharply higher Monday, but traded in a range for the majority of the session. The stock finished with a gain of 4.02 at $34.47 on the highest volume of the year. Pinnacle Foods leaped to a new high for the year.
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