Subsequent Events

12 Months Ended

Dec. 31, 2017

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Proposed Merger with General Mills, Inc.

On February 22, 2018, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) by and among General Mills, Inc. (“GMI”), the Company and Bravo Merger Corp. (“Merger Sub”). Pursuant to the Merger Agreement, on the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will be merged with and into the Registrant (the “Merger”), with the Registrant continuing as the surviving company in the Merger and a wholly-owned subsidiary of GMI. Subject to the terms and conditions set forth in the Merger Agreement, at the effective time of the Merger, each share of common stock, par value $0.01 per share, of the Company issued and outstanding immediately prior to the effective time of the Merger (other than shares of the Company’s common stock held by GMI, Merger Sub or any other wholly-owned subsidiary of GMI, shares owned by the Company (including shares held in treasury) or any of its wholly-owned subsidiaries, and shares owned by stockholders who have properly exercised and perfected appraisal rights under Delaware law) will be converted into the right to receive $40.00 per share in cash, without interest.

Completion of the Merger is subject to certain conditions, including the satisfaction of certain regulatory approvals and other customary closing conditions. Holders of more than 50% of the Company’s outstanding shares have approved the transaction and no other approval of the Company’s Board of Directors or shareholders is required to complete the transaction. The parties expect to close the transaction in the second quarter of 2018.