Procter & Gamble (NYSE:PG) will try to end the sale of its Pringles business. Proctor & Gamble must now determine how best to exit the deal and whether to expect a pushback from Diamond Foods (NASDAQ:DMND). If the sale goes forward, P&G shareholders will end up owning a majority of Diamond’s stock, which fell 37% yesterday.
Horizon Bancorp (NASDAQ:HBNC) snaps up Heartland Community Bank (HRTB) in a deal slated to close in the second quarter. Under the terms of the deal, Horizon will issue 0.54 shares of its common stock for each share of Heartland stock outstanding. The transaction will be valued at $9.72 per share for HRTB.
Express Scripts (NASDAQ:ESRX) prepares to tell regulators that its delivered all the requested information on the purchase of Medco Health (NYSE:MHS) in a move that will trigger a 30-day Federal Trade Commission review of the deal.
Yahoo (NASDAQ:YHOO) trades higher following news of Alibaba’s latest efforts to facilitate a deal. According to Reuters, Yahoo may hold onto a 15% stake in Alibaba following the deal’s closing. Alibaba may offer a stake in Alibaba.com and/or other company-owned assets.
International Paper (NYSE:IP) and Temple-Inland (NYSE:TIN) reach agreement with the Department of Justice. The agreement will allow IP’s acquisition of TIN to proceed. The combined company will undertake the post close divesture of 970,000 tons of containerboard mill capacity and divest three facilities.
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