We are representing Bob Evans Farms, Inc. (Nasdaq: BOBE) as lead corporate counsel in connection with its definitive merger agreement with Post Holdings, Inc. (NYSE: POST). Under the terms of the merger agreement, Post will acquire Bob Evans for $77 per share in cash, representing an aggregate equity value of approximately $1.5 billion. The transaction is expected by the parties to be completed in the first calendar quarter of 2018, and is subject to approval by Bob Evans’ stockholders, as well as expiration of waiting periods under U.S. antitrust laws and other customary closing conditions.
Bob Evans, headquartered in Columbus, Ohio, is a leading producer and distributor of refrigerated potato, pasta and vegetable-based side dishes, pork sausage, and a variety of refrigerated and frozen convenience food items under the Bob Evans and Owens brand names. Post, headquartered in St. Louis, Missouri, is a consumer packaged goods holding company operating in the center-of-the-store, foodservice, food ingredient, private label, refrigerated and active nutrition food categories.
Additional details about the agreement were outlined in the Law360 article, "Post Holdings Inks $1.5B Deal For Bob Evans Farms" (September 19, 2017).