Ralcorp Board of Directors Unanimously Rejects Unsolicited Proposal from ConAgra; Adopts Shareholder Rights Plan

Ralcorp Holdings RAH today announced that its board of directors has unanimously determined that the unsolicited non-binding proposal by ConAgra Foods CAG announced today is not in the best interests of shareholders. The board of directors rejected the proposal after careful consideration with the assistance of its independent financial and legal advisors.