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S&P Announces Changes to U.S. Indices (PCLN for KEM, RAH for PRX, CDR for AGL)

July 30, 2008 5:19 PM EDT
Priceline.com Inc. (NASDAQ: PCLN) will replace KEMET Corp. (NYSE: KEM) in the S&P MidCap 400 after the close of trading on Friday, August 1. As of today’s close of trading KEMET had a market capitalization of approximately $144 million, ranking 400th in the index.

S&P SmallCap 600 constituent Ralcorp Holdings Inc. (NYSE: RAH) will replace Par Pharmaceutical Companies Inc. (NYSE: PRX) in the S&P MidCap 400, and Par Pharmaceutical will replace Ralcorp in the S&P SmallCap 600 after the close of trading on Monday, August 4. Ralcorp is merging with the Post Cereal assets of S&P 100 and S&P 500 constituent Kraft Foods Inc. (NYSE: KFT) in a transaction scheduled to be effected on or about that date, pending final approvals. Par Pharmaceutical’s market capitalization makes it an appropriate fit for the S&P SmallCap 600.

S&P REIT Composite constituent Cedar Shopping Centers Inc. (NYSE: CDR) will replace Angelica Corp. (NYSE: AGL) in the S&P SmallCap 600 after the close of trading on Monday, August 4. Angelica is being acquired by an affiliate of S&P 100 and S&P 500 constituent Lehman Brothers Holdings Inc. (NYSE: LEH) in a transaction expected to close on that date.

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