ConAgra Buying Missouri Food Maker

Photo courtesy of Wikimedia Commons
Ralcorp Holdings Inc., the nation’s largest private-label food maker, has agreed to be acquired by ConAgra Foods in a deal worth about $6.8 billion, including debt.

Under an agreement approved by the boards of both companies, Omaha, Neb.-based ConAgra will pay $90 per share in cash for St. Louis-Based Ralcorp, a premium of 28.2 percent to the company’s Monday closing price. The deal, announced Tuesday, will create one of the largest packaged food companies in North America.

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