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Post Holdings set to buy Britain's Weetabix in $1.76 billion deal - source

Published 17/04/2017, 22:41
© Reuters. FILE PHOTO: Packets of Weetabix cereal and other food goods are seen inside the Ocado Customer Fulfilment Centre in Hatfield
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By Lauren Hirsch

(Reuters) - Post Holdings, the No.3 U.S. cereal company, is set to acquire British cereal company Weetabix in a $1.76 billion deal, a person familiar with the matter said.

Reuters had reported in January that Post Holdings was among four bidders vying for Weetabix, which is owned by China's Bright Food [SHMNGA.UL].

The other bidders were UK's Associated British Foods (LON:ABF), Cereal Partners Worldwide and Italian pasta maker Barilla.

© Reuters. FILE PHOTO: Packets of Weetabix cereal and other food goods are seen inside the Ocado Customer Fulfilment Centre in Hatfield

Weetabix and Post Holdings were not immediately available for comment.

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