ConAgra Foods (CAG) Announces Sale of $240M Common Stock
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Price: $14.26 -2.79%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 4.9%
EPS Growth %: -28.2%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 4.9%
EPS Growth %: -28.2%
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ConAgra Foods, Inc. (NYSE: CAG) today announced that it is offering to sell, subject to market and other conditions, approximately $240.0 million of its common stock through an underwritten public offering. ConAgra Foods also granted the underwriter a 30-day option to purchase up to an additional $35.0 million of its common stock.
ConAgra Foods intends to use the net proceeds from the offering to fund, in part, the previously announced acquisition (the "Acquisition") of Ralcorp Holdings, Inc. ("Ralcorp"). If the Acquisition is not consummated for any reason, ConAgra Foods intends to use the net proceeds from the offering for general corporate purposes.
ConAgra Foods intends to use the net proceeds from the offering to fund, in part, the previously announced acquisition (the "Acquisition") of Ralcorp Holdings, Inc. ("Ralcorp"). If the Acquisition is not consummated for any reason, ConAgra Foods intends to use the net proceeds from the offering for general corporate purposes.
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