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Post to Acquire MOM Line of Bagged, Hot Breakfast Cereals

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Post Holdings Inc., the owner of Grape-Nuts and Honeycomb breakfast cereals, agreed to buy MOM Brands Co. for $1.15 billion to add bagged and hot cereals to its product lineup.

Post will pay $1.05 billion in cash and about 2.45 million shares to the owners of closely held MOM Brands, according to a statement today. Post, based in St. Louis, has arranged to borrow as much as $700 million to help pay for the purchase. It also plans to sell about $240 million in stock.