Investing
Ralcorp to Spin-off Post Cereals on January 30th (RAH, GIS, K, CAG, KFT)
Published:
Ralcorp Holdings Inc. (NYSE: RAH) will distribute about 80% of the stock in its spin-off of Post Holdings Inc. to Ralcorp shareholders. Each shareholder will get one share of Post stock for every two shares of Ralcorp. The new company will trade on the NYSE under the symbol ‘POST’.
Post will now compete more directly with other cereal makers like General Mills Inc. (NYSE: GIS) and Kellogg Co. (NYSE: K). Last summer Ralcorp beat back a hostile takeover bid by ag giant ConAgra Corp. (NYSE: CAG). Ralcorp bought the cereal business from Kraft Foods Inc. (NYSE: KFT) in 2008.
Ralcorp will retain the private-label food business, while Post will get the branded products like Grape Nuts and Honey Bunches of Oats. Ralcorp expects to realize about $900 million in the spin-off and will retain 20% ownership of Post.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
