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J M Smucker to buy Big Heart Pet Brands in $5.8 billion deal

03/02/2015 - 22:32

(Reuters) - J M Smucker Co , the maker of Folgers coffee, said it would buy privately held pet food maker Big Heart Pet Brands in a cash-and-stock deal valued at about $5.8 billion.

J M Smucker said it would offer about 17.9 million shares to Big Heart's shareholders and pay $1.3 billion in cash.

J M Smucker will also assume about $2.6 billion of net debt of Big Heart Pet Brands.

(Reporting by Amrutha Gayathri in Bengaluru; Editing by Saumyadeb Chakrabarty)