Posted by Mark J. Miller on July 20, 2011 11:00 AM
Grape Nuts, Honeycomb, Shredded Wheat, Raisin Bran, and plenty of other cereals have been starting Americans' days for a long time, no matter who has owned them.
Since 2008, it has been St. Louis-based Ralcorp Holdings. Inc., a manufacturer of private-label goods for US grocery stores including Stop & Shop, IGA and Hannaford, which produces cereals in its Ralston Foods division.
Ralcorp bought the organization from Kraft Foods for $2.7 billion. Now, Ralcorp finds itself the target of an unwanted takeover attempt by ConAgra Foods, which has offered $4.9 billion, according to FoodProcessing.com.Continue reading...