JMS Equity Research Downgrades American Italian Pasta Co (AIPC) to Neutral; Company To Be Acquired By Ralcorp (RAH)
AIPC Hot Sheet
Rating Summary:0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
JMS Equity Research downgrades American Italian Pasta Company (Nasdaq: AIPC) from Buy to Neutral.
JMS analyst says, "It was announced today that Ralcorp Holdings, (NYSE: RAH) (BUY-rated) reached a definitive merger agreement with AIPC. Under the agreement, RAH will acquire all of AIPC's shares for $53/sh in cash, for a total purchase price of approximately $1.2 billion, net of cash acquired. RAH management noted that it expects to close during its fiscal fourth quarter (ending September 30, 2010)...Our take: We view RAH's bid as a fair valuation of AIPC's business...We do not believe there is a high likelihood of a competitive bid for AIPC."
To see all the upgrades/downgrades on shares of AIPC, visit our Analyst Ratings page.
American Italian Pasta Company engages in the production and marketing of dry pasta in North America.
JMS analyst says, "It was announced today that Ralcorp Holdings, (NYSE: RAH) (BUY-rated) reached a definitive merger agreement with AIPC. Under the agreement, RAH will acquire all of AIPC's shares for $53/sh in cash, for a total purchase price of approximately $1.2 billion, net of cash acquired. RAH management noted that it expects to close during its fiscal fourth quarter (ending September 30, 2010)...Our take: We view RAH's bid as a fair valuation of AIPC's business...We do not believe there is a high likelihood of a competitive bid for AIPC."
To see all the upgrades/downgrades on shares of AIPC, visit our Analyst Ratings page.
American Italian Pasta Company engages in the production and marketing of dry pasta in North America.
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