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Campbell Soup to buy snacks maker Snyder's-Lance for $4.87 billion

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Campbell Soup to buy snacks maker Snyder's-Lance for $4.87 billion

Campbell Soup to buy snacks maker Snyder's-Lance for $4.87 billion
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(Reuters) – Campbell Soup Co <CPB.N> will buy Pretzels and Cape Cod chips maker Snyder’s-Lance Inc <LNCE.O> for $4.87 billion (£3.64 billion) as it looks to expand its snack business amid sagging soup sales.

Campbell said on Monday it would pay Snyder’s shareholder $50 per share in cash.

The offer represents a 27 percent premium to Snyder’s close on Wednesday, a day before CNBC first reported that the company had hired an investment bank to weigh a potential sale following an approach from Campbell.

(Reporting by Uday Sampath in Bengaluru; Editing by Shounak Dasgupta)

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