ConAgra buying Ralcorp for about $4.95 billion
OMAHA, Neb. (AP) _ ConAgra Foods is buying private-label food
producer Ralcorp for about $4.95 billion, which will make it the
biggest private-label packaged food business in North America.
ConAgra says the acquisition will strengthen its overall
position in the North American packaged food business. ConAgra
brands include Chef Boyardee, Egg Beaters, Peter Pan and Reddi-wip.
ConAgra Foods Inc. said Tuesday that it will pay Ralcorp
Holdings Inc. stockholders $90 per share, a 28 percent premium to
its Monday closing price. Ralcorp's stock jumped 26.5 percent in
The combined company will have total sales of about $18 billion
The companies value the transaction at about $6.8 billion when
debt is included.
The deal is expected to close by March 31, 2013 and needs
Ralcorp shareholder approval.
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