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.
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.
Hostess Brands Inc., the bankrupt baker of Twinkies and Wonder bread, may attract bids for its brands from rival Flowers Foods Inc. and private equity firm C. Dean Metropoulos & Co. in a liquidation the company estimates will take about a year.
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.
Shuanghui International Holdings Ltd.’s $4.7 billion bid for Smithfield Foods Inc., the world’s biggest hog producer, faces hurdles from regulators and rivals to what would be the largest Chinese acquisition of a U.S. company.