Lance, Inc. (NASDAQ:LNCE) ("Lance") and Snyder's of Hanover, Inc. ("Snyder's") today announced they have received clearance from the U. S. Federal Trade Commission via early termination of the review process under the Hart-Scott-Rodino Antitrust Improvements Act for their previously announced proposed merger of equals.
The merger is expected to be completed in the fourth quarter of this year and is still subject to shareholder approval by Lance and Snyder's stockholders and the satisfaction of other customary closing conditions. The companies announced that they had signed a definitive agreement to combine the in a stock-for-stock merger of equals in July of this year. The combined company will be called Snyder's-Lance, Inc.
In addition to leading iconic brands such as Lance®, Snyder's of Hanover®, Cape Cod® and Grande®, Snyder's-Lance will have a national distribution footprint in the United States.
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