ConAgra (CAG) Could Provide 'Tasty' Returns Following Ralcorp (RAH) Acquisition - Barron's
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Jefferies Upgrades ConAgra (CAG) to Buy, Says Ralcorp Deal a 'Game Changer'
November 30, 2012 7:17 AM ESTJefferies upgraded ConAgra (NYSE: CAG) from Hold to Buy with a price target of $35.00 (from $29.00).
The firm comments, "In our view, the... More
ConAgra (CAG) to Acquire Ralcorp (RAH) for $90/Share
November 27, 2012 7:01 AM ESTConAgra Foods, Inc. (NYSE: CAG) and Ralcorp Holdings, Inc. (NYSE: RAH) today announced that the boards of directors of both companies have unanimously approved a definitive agreement under which ConAgra Foods will acquire Ralcorp, the largest manufacturer of private label food in the U.S. Under the terms of the agreement, Ralcorp shareholders will receive $90.00 per share in cash for each outstanding share of common stock held, representing a 28.2% premium to the closing price of Ralcorps common stock on November 26, 2012, and a 24.9% premium to the average closing price of Ralcorps common stock for the 30 trading days ending November 26, 2012. The transaction is valued at approximately $6.8 billion, including the assumption of debt.
This transaction creates one of the largest packaged food companies in North America, with sales of approximately... More
