Buyout Shops Pay $5.3 Billion for Del Monte

Buyout shops Kohlberg Kravis Roberts & Co., Vestar Capital Partners and Centerview Partners will acquire Del Monte for $5.3 billion. The deal values Del Monte at $19 per share, a 40% premium over the company’s average closing price during the past three months. The deal includes the assumption of roughly $1.3 billion in assumed debt. Debt financing will come from Bank of America, Merrill Lynch, Barclays Capital Inc., JPMorgan Chase, Morgan Stanley and KKR Capital Markets.

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