Deal snapshot: JM SMUCKER'S DEAL TO ACQUIRE WESSON OIL BRAND FROM CONAGRA TERMINATED.

MANews-(C)2009-2018

Ohio, US-based food and beverage manufacturer The J. M. Smucker Company (NYSE: SJM) and Illinois, US-based packaged foods corporation Conagra Brands, Inc. have agreed to terminate the definitive agreement for the Smucker to acquire the Wesson oil brand from Conagra, the company said.

The USD 285m deal was previously announced on 30 May 2017. On 5 March 2018, the US Federal Trade Commission announced that it filed an administrative complaint challenging the proposed transaction.

Country: USA

Sector: Food/Beverages/Tobacco

Target: Wesson oil brand

Buyer: J. M. Smucker Company

Vendor: Conagra Brands

Deal size in USD: 285m

Type: Corporate Acquisition

Financing: Cash

Status: Terminated

Buyer advisor: , ,

Comment: Companies nix deal following administrative complaint from the US Federal Trade Commission