Private label foods giant Ralcorp Holdings, Inc., St. Louis, said its Board of Directors met and considered an unsolicited, non-binding proposal from ConAgra Foods to acquire Ralcorp.
ConAgra Foods, Omaha, Neb., reiterated its $94 per share, all-cash proposal to acquire Ralcorp Holdings, Inc., a private label products company and a leader in frozen bakery foods.
ConAgra Foods and NBCUniversal Cable Entertainment said they formed an integrated marketing partnership involving two of their largest brands: Bravo's Top Chef TV program and Healthy Choice.
ConAgra Foods, Inc., Omaha, Neb., said that on Thursday, August 11, 2011, it sent a revised proposal to the board of directors of Ralcorp Holdings, Inc. to acquire the company for $94.00 per share in cash.
Frozen foodservice and contract food processor Overhill Farms Inc., Los Angeles, released second quarter earnings last Friday and noted that "the company is in discussions regarding a significant potential acquisition and has retained BofA Merrill Lynch."
Private label and branded foods giant Ralcorp Holdings, Inc., St. Louis, said its board of directors unanimously determined that ConAgra Foods' unsolicited non-binding proposal of $4.9 billion "is not in the best interests of shareholders."
After it was rebuffed in private discussions, ConAgra went public to say it would like to buy Ralcorp for $86 per share in cash, or approximately $4.9 billion, plus the assumption of $2.5 billion in debt.
ConAgra Foods, Omaha, Neb., recognized winners of its 2011 Sustainable Development Awards, an internal awards program "intended to drive and reward innovative approaches to sustainability that produce tangible business results."
Frozen bakery and snacks leader J&J Snack Food Corp., Pennsauken, N.J., said it expects by the end of this May to buy ConAgra Foods' frozen hand-held products business.
ConAgra Foods, Omaha, Neb., said its Lamb Weston sweet potato processing plant in Delhi, La., is the first frozen food manufacturing facility to earn a LEED Platinum certification from U.