Print Edition
September 2010 
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Ralcorp To Issue Notes To Fund Acquisition Of AIPC |
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Selina Harrison, July 2010 |
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(23 July 2010)
To fund its $1.2bn acquisition of American Italian Pasta Co (AIPC), food manufacturer Ralcorp Holdings will sell $450m in notes on the New York Stock Exchange in an underwritten public offering, according to media reports.
In a filing with the Securities and Exchange Commission on 21 July, Ralcorp announced that Credit Suisse Securities LLC, JP Morgan Securities Inc. and Wells Fargo Securities LLC are managing the public offering.
Ralcorp’s acquisition of AIPC is set to close in September.
Although the deal received antitrust approval, some AIPC shareholders are seeking to stop the sale, claiming it undervalues the company, reports the Kansas City Business Journal.
AIPC makes dry pasta and has a workforce of 675 employees in the US and Italy. Once the deal is closed, AIPC will become a subsidiary of Ralcorp operating as an independent division.
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