Snack Food Makers Lance, Snyder's To Merge

Law360, New York (July 22, 2010, 6:51 PM EDT) -- Lance Inc. — the maker of Cape Cod Potato Chips and Stella D'oro cookies — and pretzel giant Snyder’s of Hanover Inc. announced plans Thursday to combine forces in a stock-for-stock merger, aiming to create a new snack food company named Snyder’s-Lance Inc.

The companies have termed the tax-free exchange of shares “a merger of equals.”

Under the terms of the deal, shareholders in Snyder’s and Lance will each own approximately 50 percent of the new company after the merger, and existing Lance and Snyder’s options...
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