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Friday, April 29, 2011

ConAgra made unsolicited bid for Ralcorp - CNBC

Shares of Ralcorp Holdings Inc jumped on Friday after CNBC said ConAgra Foods Inc had made an unsolicited bid for the private-label food maker and that talks were "no longer ongoing." ConAgra sent a letter to Ralcorp about two months ago, the cable television channel reported. When contacted, a ConAgra spokeswoman said the company had no comment. Ralcorp, which also makes Post branded cereals, did not return calls or mails requesting comment. ConAgra, the maker of Healthy Choice frozen meals and Slim Jim meat snacks, has been struggling with increases in costs of commodities such as gas, dairy and wheat.