Bob Evans $1.5B Post Deal To Face Del. Chancery Appraisal

Law360, Wilmington (January 23, 2018, 9:07 PM EST) -- The Water Island Capital LLC-advised Arbitrage Fund launched a petition in Delaware Chancery Court on Tuesday for an appraisal of Bob Evans Farms Inc.’s $1.5 billion sale of its packaged food and food-service lines to cereal giant Post, about two weeks after another investor sought documents to investigate the sale.

The fund, which says it owned nearly 768,000 Bob Evans shares, is seeking appraisal of the units valued at $77 each when the Post deal closed Jan. 12 and Bob Evans was no longer a publicly...
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