ConAgra Foods Inc (CAG.N) Chief Executive Gary Rodkin made clear on Tuesday that the company was still on the hunt for acquisitions a day after it walked away from its months-long pursuit of Ralcorp Holdings Inc (RAH.N). "We have a pipeline of alternatives that we've been assessing," Rodkin said during a conference call with analysts to discuss the company's first-quarter earnings, which missed Wall Street's expectations. On Monday Ralcorp, which makes private-label foods that stores brand as their own, as well as Post cereals, again spurned ConAgra's $94 a share offer and stood by its plan to split up those businesses into two companies. Private label has been a growing sector as consumers, pressured by high unemployment and rising costs for everything from gasoline to food, look for ways to save money.
ConAgra Foods, Inc. (ConAgra Foods) is a food company. Shares of CAG fell by 1.84% or $-0.43/share to $22.96. In the past year, the shares have traded as low as $21.02 and as high as $26.60. On average, 5038840 shares of CAG exchange hands on a given day and today's volume is recorded at 3121285.
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 1.82% or $1.37/share to $76.60. In the past year, the shares have traded as low as $57.10 and as high as $91.35. On average, 991283 shares of RAH exchange hands on a given day and today's volume is recorded at 593752.
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