Jul. 22, 2011 | Earnings Reports
Seneca Foods Corporation (SENEA, SENEB) and Allens, Inc. are pleased to announce that they have signed a Memorandum of Understanding contemplating a merger of the two companies in a stock for stock transaction. The completion of the transaction is subject to the negotiation and execution of a definitive agreement between the two parties, customary closing conditions, including regulatory, shareholder and lender approvals and satisfactory completion of due diligence. Terms of the deal were not disclosed.