F.T.C. clears Ralcorp purchase of Post cereal brands
January 31, 2008
by Eric Schroeder
WASHINGTON — The Federal Trade Commission on Wednesday cleared Ralcorp Holdings Inc.’s $1.7 billion purchase of two dozen Post cereal brands from Northfield, Ill.-based Kraft Foods Inc.
As part of the transaction, first announced in November, Kraft shareholders will receive $1.7 billion worth of Ralcorp stock and will own 54% of the company.
St. Louis-based Ralcorp, which makes store brand and other private-label cereals, will receive Grape Nuts, Shredded Wheat, Honey Bunches of Oats and other brands.
The deal is expected to close in mid-2008, Kraft said.