Ralcorp completes American Italian Pasta purchase
July 28, 2010
by Jeff Gelski
ST. LOUIS – Ralcorp Holdings, Inc. has completed its purchase of American Italian Pasta Co. for approximately $1.2 billion, Ralcorp said July 27. American Italian Pasta becomes a subsidiary of Ralcorp and will report to Kevin J. Hunt, co-chief executive officer and president of Ralcorp.
Ralcorp first reported its offer to buy Kansas City-based American Italian Pasta on June 24. Ralcorp, through its indirect subsidiary Excelsior Acquisition Co., successfully completed a tender offer for all of the outstanding shares of Class A common stock of American Italian Pasta for $53 per share in cash. Each share of Class A common stock of American Italian Pasta not accepted for payment in the tender offer has been converted into the right to receive $53 in cash.
American Italian Pasta’s Class A common stock ceased trading on the NASDAQ on July 27 and no longer will be listed on NASDAQ.