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View Count: 64 |  Publish Date: November 27, 2012
ConAgra to Buy Ralcorp for $6.8 Billion Including Debt
By James Callan - 2012-11-27T12:22:31Z
Nov. 27 (Bloomberg) -- ConAgra Foods Inc. agreed to acquire Ralcorp Holdings Inc. (RAH) for $6.8 billion, creating one of the largest packaged food companies in North America and concluding a pursuit that began in March of last year.
The offer of $90 a share is 28 percent more than Ralcorp’s closing price yesterday, the companies said today in a statement. The total amount includes debt.
The transaction will create a company with sales of about $18 billion and more than 36,000 employees, according to the statement. Ralcorp, which sells cookies and pasta under retailers’ own brands, rejected a takeover bid from ConAgra last year, saying it would spin off its Post Foods unit instead and focus on private-label goods.
Ralcorp fell 1.7 percent to $70.23 yesterday in New York. ConAgra, based in Omaha, Nebraska, fell 0.4 percent to $28.29.
To contact the reporter on this story: James Callan in New York at jcallan2@bloomberg.net
To contact the editor responsible for this story: Robin Ajello at rajello@bloomberg.net

Time: 13:39  |  News Code: 5315  |  Site: bloomberg
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