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The boards of Ralcorp Holdings Inc
RAH and American Italian Pasta Co
AIPC have collectively agreed over a definitive merger in a deal valued at $1.2 billion.
As per the deal, Ralcorp would pay $1.2 billion to buy all of the outstanding common stock of AIPC for $53 per share in cash. This transaction values AIPC at 27% premium to its closing price of $41.73 on Friday. This deal may close in RAH’s fiscal Q4 ending September 30, 2010.
Shares of RAH dipped 0.03% to $62.15, while AIPC’s shares fell 2.52% to $40.68 in the after-hours trading session.
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from Benzinga's Company news.© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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