Skip to content
Subscriber Only

ConAgra Said to Have Bid at Least $80 a Share for Ralcorp

ConAgra Foods Inc., the maker of Hunt’s Ketchup and Healthy Choice frozen meals, offered to buy cereal maker Ralcorp Holdings Inc. for at least $80 a share in March, said a person with knowledge of the matter.

The cash-and-stock bid, submitted in writing, was in the low 80s, said the person, who declined to be identified because the situation is private. Ralcorp said yesterday that its board turned down an unsolicited offer, without identifying the suitor. The company also said it isn’t currently in sale talks.