TreeHouse Foods Stock Jumps 24% After Acquisition News And Despite Wider Q3 Loss

(RTTNews) - TreeHouse Foods, Inc. (THS) is trading higher, up 23.49 percent at $23.31 on Monday, after reporting a significantly wider third-quarter net loss and announcing that Investindustrial will acquire it for $2.9 billion.

A year ago, the company reported a net loss of $3.4 million, or $0.07 per share; this year, it reported a loss of $265.8 million, or $5.26 per share. The adjusted profit per share missed analyst expectations of $0.56, dropping from $0.74 to $0.43. At $840.3 million, net sales were virtually unchanged.

THS closed at $19.05. It is currently trading at $23.14. With a volume of 6.86 million compared to an average of 0.89 million, the stock opened at $23.08 and has since fluctuated between $22.95 and $24.05.

The 52-week trading range for the company is $15.85 to $40.77.