ConAgra Foods to Acquire Ralcorp for $90/Share in Cash

ConAgra Foods CAG and Ralcorp Holdings, Inc. 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 Ralcorp's common stock on November 26, 2012, and a 24.9% premium to the average closing price of Ralcorp's 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. See full press release