ConAgra’s (CAG) planned spinoff of its potato product business, Lamb Weston, is making progress. The most recent milestones achieved were the filing of the company’s initial Form 10 and the naming of its top executives. Thomas Werner, currently President of ConAgra’s Commercial Foods business, will become CEO and Tim McLevish, currently a consultant, will become Executive Chairman. Sean… Read More »
‘If at first you don’t succeed, wait for a spinoff then try, try again’ Not how I remember it either, but that seems to have been ConAgra’s (CAG) approach in its pursuit of Ralcorp (RAH). After three prior takeover attempts were rebuffed, the company finally succeeded in reeling in its prey for the tidy sum of $90 per… Read More »
It’s been nearly 6 months since Ralcorp(RAH) announced plans to spin off Post Holdings and not much has changed. The interest that had been expressed by Conagra(CAG) never materialized into a transaction as Ralcorp management continued to reject buyout offers. Today, the company took the mildly unusual step of issuing a press release noting that it has amended… Read More »
Ending a short-lived marriage, Ralcorp(RAH) announced plans today to spin off its Post Cereals business as an independent company. The company hopes to complete the spinoff in the next 4 to 6 months. Ralcorp. which itself was spun out of Ralston Purina in 1994, purchased the Post Brands from Kraft(KFT) in August 2008. Ralcorp, which will continue to… Read More »