Campbell buys Snyder’s-Lance for $4.87B

NEW YORK (AP) — Campbell Soup will spend $4.87 billion in cash for Snyder’s-Lance, gorging on a snack market that has grown increasingly competitive.
The soup maker said Monday that the acquisition will allow it to expand its distribution channels in the crowded field.
Campbell Soup Co., based in Camden, New Jersey, is paying $50 per share, a 6.8 percent premium to Snyder’s-Lance’s closing price Friday. That’s about a 27 percent premium to the stock’s close la