Lamb Weston Stock Declines After Post Holdings Acquisition Announcement

Investing.com — Lamb Weston’s (NYSE: LW) stock fell by 5% following the announcement that the consumer packaged goods holding company Post Holdings (NYSE: POST) has agreed to acquire Potato Products of Idaho.

Last week, Reuters reported that Post Holdings was working with bankers on a possible deal with Lamb Weston, a frozen potato products maker facing pressure from an activist investor to sell itself.

However, Post Holdings today announced that it has agreed to acquire Potato Products of Idaho, a manufacturer and packager of refrigerated and frozen potato products.

The financial details of the acquisition were not disclosed.

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