Grupo Bimbo's $1.7B Canada Bread Buy Stokes Expansion

Law360, New York (February 12, 2014, 6:30 PM EST) -- Grupo Bimbo SAB de CV said Wednesday it will fork over CA$1.8 billion ($1.7 billion) for Canada Bread Co. Ltd., adding to the Mexican buyer's flex in the North American bread market already bolstered by a series of acquisitions in recent years.

Under the deal's terms, Grupo Bimbo will pay CA$72 per share — a 7 percent premium over Canada Bread's Tuesday close. The stock has risen more than 20 percent since fall, when reports began swirling that the company was up for sale. Grupo Bimbo...
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