F.T.C. clears Ralcorp purchase of Post cereal brands

by Eric Schroeder
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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.

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