Conagra Foods Inc (CAG.N) said on Sunday it will consider its options after its sweetened takeover offer to purchase private-label food company Ralcorp Holdings Inc (RAH.N) was rejected on Friday. Conagra had raised its offer to $94 a share from its previous unsolicited bid of $86 a share. Its original offer for Ralcorp was $82 a share. Ralcorp has rejected all Conagra's offers. Last month, Ralcorp decided to separate its Post-brand cereals unit from its predominantly private-label business to create two companies. Conagra said it would continue to consider its options with respect to this potential transaction and has no further comment at this time.
ConAgra Foods, Inc. (ConAgra Foods) is a food company. Shares of CAG traded higher by 0.78% or $0.18/share to $23.19. In the past year, the shares have traded as low as $21.02 and as high as $26.60. On average, 4883620 shares of CAG exchange hands on a given day and today's volume is recorded at 5147691.
Ralcorp Holdings, Inc. (Ralcorp) is engaged in manufacturing, distributing and marketing private-brand food products, Post brand ready-to-eat cereal products and other regional and value-brand food products in the grocery, mass merchandise, drugstore and foodservice channels. Shares of RAH traded higher by 1.07% or $0.84/share to $79.02. In the past year, the shares have traded as low as $55.78 and as high as $91.35. On average, 764803 shares of RAH exchange hands on a given day and today's volume is recorded at 621828.
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