ConAgra Foods bid to take over private-label food maker Ralcorp about two months ago, report says; negotiations no longer ongoing
April 29, 2011
– ConAgra Foods Inc. sent a letter to Ralcorp Holdings Inc. about two months ago, making an unsolicited takeover offer for the private-label food maker, cable television channel CNBC reported online April 29, citing unnamed sources.
According to CNBC, the negotiations are no longer ongoing.
The food and beverage industry may see fewer mergers and acquisitions this year versus last year, Reuters reported April 29. According to analysts and executives, this is because of high commodities prices and “companies’ wish for the perfect right strategic buys.”
The primary sources of this article are CNBC LLC, Englewood Cliffs, New Jersey, and Reuters, London, England, on April 29, 2011.