Here are today’s top business headlines from across Missouri:
St. Louis-based Post Holdings has agreed to buy U.K. cereal maker Weetabix Food Co. in a $1.77 billion deal, the companies announced early Tuesday. Weetabix, the second-largest cereal maker in the U.K., is owned by China’s Bright Food Group Co. and Baring Private Equity Asia. The deal will allow for expanded distribution of Post Holdings products in a number of international markets, while expanding Weetabix brands in North America. Read more
Springfield-based Bass Pro Shops has lowered its bid in its effort to acquire rival Cabela’s. In a Monday news release, Nebraska-based Cabela’s said the terms of the merger agreement the companies signed on Oct. 3 had been amended. The amended agreement calls for Bass Pro to acquire Cabela’s for $61.50 per share in cash. The original agreement called for Bass Pro to pay $65.50 per share. Read more
Anheuser-Busch InBev is planning to expand its brand offerings in India, a country where top brewers are expecting sales to increase by as much as 7 percent this fiscal year. A-B InBev, the parent company of St. Louis-based Anheuser-Busch, plans to take its import labels such as Corona, Hoegaarden and Stella to more than a dozen markets across India, The Economic Times reports. Read more
While Missouri U.S. Sen. Claire McCaskill and potential GOP rival U.S. Rep. Ann Wagner collect millions of dollars in campaign donations, many Missouri officials are raising far less as they adjust to new state campaign donation limits. State campaign reports from Jan. 1 to March 31 document the impact of a new amendment to limit campaign donations to Missouri’s statewide officials and legislators. Read more
In St. Louis’ tight housing market, the feeling of hope among home buyers has become one of angst. Homes that have barely been on the market are receiving multiple bids above asking price. Would-be buyers are struggling to compete with others willing to pay cash, waive certain contingencies or buy sight-unseen. Real estate agents around the area say its something they’ve never seen. Read more
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