Nomad Foods, parent of Birds Eye, Iglo and Findus frozen food businesses, expects to repurchase $483 million (€408 million) worth of its stock after completing its buyback program on Sept. 8 to pursue targeted frozen food acquisitions.
The European frozen food giant will buy a total of 18,938,159 shares at a price of $25.50 (€21.54), representing almost 10 percent of the company's market capitalization.
Credit Suisse Securities served as the deal manager for the tender offer and consulting firm Georgeson served as information agent.
The final amount of shares and purchase price will be determined within the next two days.
