Ralcorp Holdings Inc. , the St. Louis-based producer of Post cereals, agreed to buy American Italian Pasta Co. for about $1.2 billion in cash, to gain control of the biggest maker of dry pasta in North America.
Bill Stiritz paid scant attention to Herbalife Ltd. until a televised smackdown in January between billionaire hedge-fund activists Carl Icahn and Bill Ackman, who claims the nutrition company is a pyramid scheme. Icahn’s rebuttal convinced Stiritz to take a closer look.
Herbalife Ltd., the nutrition company at the center of a battle between hedge-fund managers Bill Ackman and Carl Icahn, raised its 2013 earnings forecast as first-quarter profit topped analysts’ estimates.
Diamond Foods Inc. named a permanent chief financial officer and said it will revise fiscal second- quarter earnings per share after a restatement last year derailed its effort to buy the Pringles potato-chip brand.
Sara Lee Corp. ’s board plans to make a decision about whether to sell or break up the company by the end of the month and hasn’t received a new takeover offer from Brazil’s JBS SA , according to a person familiar with the matter.
Ralcorp Holdings Inc., the maker of Raisin Bran cereals, agreed to buy Sara Lee Corp.’s North American refrigerated-dough unit for $545 million to bolster its private-label brands with pizza and toaster pastries.