Smucker Memo

Smucker Memo - To From Date Subject Isin Guler John T Lilly...

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To: Isin Guler From: John T. Lilly Date: October 21, 2008 Subject: Smucker and Folgers Deal J. M. Smucker Co. according to “Smucker Shareholders OK merger plan” in Business Week has approved the merger with Folgers coffee, a former P&G company. The deal calls for an all equity exchange and the creation of a new Smucker company. The deal has the P&G stockholders trade Folgers for a share each in the new company with previous P&G shareholders controlling 53.5% of the new shares, a deal valued at $3.3 Billion. The deal is scheduled to be completed by the end of the fourth quarter in 2008. J.M Smucker Co. operates in the consumer food business primarily through its brands Smucker's, “Jif, Crisco, Pillsbury, and Hungry Jack.” It is primarily operating about half in baking products and half in jams and spreads. Folgers coffee is owned by P&G and is a leader in the home brewed consumer retail coffee industry. In addition, with the Folgers brand J.M. Smucker Co. will gain distribution and production rights to
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Smucker Memo - To From Date Subject Isin Guler John T Lilly...

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