Dean Foods Prices Offering of 29.9M WhiteWave Class A Shares at $17.75/Share

Dean Foods Company DF today announced the pricing of an offering of approximately 29.9 million shares of Class A common stock of The WhiteWave Foods Company WWAV) owned by Dean Foods at a public offering price of $17.75 per share. The underwriters have a 30-day option to purchase up to approximately 4.5 million additional shares of WhiteWave Class A common stock owned by Dean Foods, at the same public offering price, less the underwriting discount. If the underwriters exercise this option in full, Dean Foods will not own any shares of WhiteWave common stock upon completion of the offering. The offering is expected to close on July 25, 2013. Prior to the closing of the offering, Dean Foods will exchange its shares of WhiteWave Class A common stock to be sold in the offering for indebtedness of Dean Foods currently held by J.P. Morgan Securities LLC and BofA Merrill Lynch, who are two of the underwriters in the offering. J.P. Morgan Securities LLC and BofA Merrill Lynch will then sell these shares of Class A common stock pursuant to the offering. Dean Foods expects the debt-for-equity exchange to be a tax-free transaction. See full press release