Shares of Ralcorp Holdings Inc. slid after ConAgra Foods Inc. threatened to withdraw its offer to buy the company if Ralcorp does not engage in a constructive dialogue by September 19, 2011.
Ralcorp rejected the revised proposal within 24 hours and stated a firm commitment to focus on the strategies specific to its business separate from Post Foods.
The sale of its North American Refrigerated Dough business is expected to better enable Sara Lee to focus on its branded meats and frozen desserts products and establish a platform for a strong and independent future.
After being acquired by Ralcorp, Post Foods successfully collaborated with a broker and a solutions provider to transition to a new enterprise resource planning (ERP) and trade promotion management (TPM) solution.
Ronald D. Wilkinson is appointed to the newly created position of president, Ralcorp Cereal Products; Bart Adlam is promoted to president of Post Foods LLC.
