Discussions that may have led to a potential deal between Conagra and Pinnacle Foods have come to a conclusion, sources tell CNBC.
These people familiar with the matter say Conagra, the owner of Reddi-wip whipped cream, and Pinnacle, which owns brands such as Duncan Hines, spoke weeks ago about a possible combination, but have no plans to revisit the issue.
Conagra and its smaller rival were unable to agree on a price, a person familiar with the deal said, adding that Pinnacle's expectations far exceeded what Conagra might have been willing to pay.
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