date:Jul 01, 2014
total approximately $25 million.
Given the Company's sizable net operating loss carry-forwards, Pinnacle expects to pay minimal cash taxes on the payment from Hillshire. The Company plans to use the net cash proceeds to reduce debt and, as a result, expects net interest expense for the year to fall slightly below the $100 million previously disclosed. The interest savings are expected to be reinvested in the business in 2014.
On a pro forma adjusted basis, which excludes the merger-related