October 2, 2018 / 5:37 PM / 3 months ago

REFILE-BUZZ-Maple Leaf Foods Inc: Up on VIAU Foods acquisition

(Corrects to fix typo in headline)

** Canadian packaged meats producer’s shares rise 6.5 pct to C$32.62 - their biggest one-day pct gain in more than 2 yrs

** Co to buy VIAU Foods for C$215 mln, including C$30 mln in MFI stock

** Canaccord Genuity raises PT by C$2 to C$37, says it expects MFI to leverage VIAU’s excess production capacity to support growth

** MFI would look to incorporate raised-without-antibiotics products into VIAU’s product portfolio, increasing margins over time - Canaccord

** 5 of 7 brokerages rate the stock “buy” or higher, 2 “hold”; Median PT C$37.00

** Including today’s gains, stock still down ~9 pct YTD (Reporting by Debroop Roy in Bengaluru)

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