Snack Food Combination Gets FTC Approval

Snack makers Lance Inc. and Snyder's of Hanover Inc. said Wednesday that their combination received regulatory approval from the Federal Trade Commission.

The two announced the all-stock transaction last month, which would leave shareholders of the privately held Snyder with 50.1 percent and Lance shareholders 49.9 percent of the combined company that will be called Snyder's-Lance Inc.

Specific terms were not released, but Lance shareholders are also set to receive a $3.75 special cash dividend at the close of the combination.

The new company will be based in Charlotte.

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