Key Developments: ConAgra Foods Inc (CAG)
35.71USD
21 May 2013
$0.01 (+0.03%)
$35.92
$35.72
$35.82
$35.44
1,866,324
3,154,627
$36.31
$23.64
Latest Key Developments (Source: Significant Developments)
ConAgra Foods Inc Reaffirms FY 2013 EPS Guidance
ConAgra Foods Inc reaffirmed expectations for fiscal 2013 diluted EPS to be approximately $2.15. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $2.15 for fiscal 2013. Full Article
ConAgra Foods Inc Announces Quarterly Dividend
ConAgra Foods Inc announced that the board of directors approved a dividend of $0.25 per common share to be paid on May 31, 2013, to stockholders of record at the close of business on April 30, 2013. Full Article
ConAgra Foods Inc Reaffirms FY 2013 EPS Guidance
ConAgra Foods Inc announced that based on the strong performance to date and the expected contribution from Ralcorp, the Company reaffirmed expectations for fiscal 2013 diluted EPS to be approximately $2.15, adjusted for items impacting comparability; this represents approximately 17% year-over-year growth. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $2.15 for fiscal 2013. Full Article
ConAgra Foods Inc, Cargill and CHS Inc Join Together In Flour Milling-Reuters
Reuters reported that ConAgra Foods Inc, Cargill and CHS Inc said they plan to combine their North American flour milling businesses into a new company called Ardent Mills. Ardent Mills will combine ConAgra Mills and Horizon Milling, a Cargill-CHS joint venture formed in 2002, into a single company serving the baking and food industries. ConAgra and Cargill will each have a 44% stake in the joint venture, with CHS owning the remaining 12%. All three companies will have representatives on its board. Ardent Mills, which is expected to be formed in late 2013, will operate as an independent joint venture of ConAgra, Cargill and CHS. Horizon Milling President Dan Dye will become chief executive officer of the new company, and the headquarters will be determined later, the companies said in a joint statement. Full Article
ConAgra Foods Inc Raises FY 2013 EPS Guidance
ConAgra Foods Inc announced that its outlook for fiscal 2013 diluted EPS has been raised to a target of approximately $2.15, adjusted for items impacting comparability; this includes the contribution from Ralcorp, as well as higher-than-planned contribution from the Consumer Foods and Commercial Foods operating segments, and tax favorability. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $2.13 for fiscal 2013. Full Article
ConAgra Foods Inc Completes Acquisition Of Ralcorp Holdings Inc
ConAgra Foods Inc announced that the completion of its acquisition of Ralcorp Holdings Inc . ConAgra Foods agreed to acquire Ralcorp on November 26, 2012, for $90.00 in cash per share of Ralcorp common stock. The closing of the transaction follows the approval of the acquisition by Ralcorp`s shareholders on January 29, and the receipt of all required regulatory approvals.With 36,000 employees and sales of approximately $18 billion annually, the combined company is one of the largest packaged food companies in North America. Centerview Partners and BofA Merrill Lynch are serving as financial advisors to ConAgra Foods and Davis Polk & Wardwell LLP and Jones Day are serving as its legal advisors. Barclays and Goldman Sachs & Co. are serving as Ralcorp`s financial advisors and Wachtell, Lipton, Rosen & Katz is serving as its legal advisor. Full Article
ConAgra Foods Inc And Ralcorp Holdings Inc Announces Expiration Of Hart-Scott-Rodino Waiting Period
ConAgra Foods Inc announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, relating to the previously-announced acquisition of Ralcorp by ConAgra Foods, expired on January 10, 2013. The expiration of the waiting period satisfies one of the conditions to the consummation of the transaction. Full Article
ConAgra Foods Inc Announces Pricing of Public Offering of Common Stock
ConAgra Foods Inc announced the pricing of an underwritten public offering of 8,067,227 shares of its common stock at a price of $29.75 per share. ConAgra Foods also granted the underwriter a 30-day option to purchase up to an additional 1,176,471 shares of its common stock. ConAgra Foods expects to receive net proceeds from the offering of approximately $234.7million after underwriting discounts and commissions and estimated offering expenses (or approximately $269.0 million if the underwriter exercises its option to purchase additional shares of common stock in full). The offering is expected to close on January 11, 2013, subject to customary closing conditions. ConAgra Foods intends to use the net proceeds from the offering to fund, in part, the previously announced acquisition (the Acquisition) of Ralcorp Holdings, Inc. (Ralcorp). If the Acquisition is not consummated for any reason, ConAgra Foods intends to use the net proceeds from the offering for general corporate purposes. BofA Merrill Lynch acted as sole book-running manager for the common stock offering. Full Article
ConAgra Foods Inc Announces Public Offering Of Common Stock
ConAgra Foods Inc announced that it is offering to sell, subject to market and other conditions, approximately $240.0 million of its common stock through an underwritten public offering. ConAgra Foods also granted the underwriter a 30-day option to purchase up to an additional $35.0 million of its common stock. ConAgra Foods intends to use the net proceeds from the offering to fund, in part, the previously announced acquisition (the " Acquisition ") of Ralcorp Holdings, Inc. (" Ralcorp "). If the Acquisition is not consummated for any reason, ConAgra Foods intends to use the net proceeds from the offering for general corporate purposes. BofA Merrill Lynch is acting as sole book-running manager for the common stock offering. Full Article
ConAgra Foods Inc Raises FY 2013 EPS Guidance
ConAgra Foods Inc announced that based on the strong performance in the first half of 2013, the Company now expects fiscal 2013 diluted EPS to be at least $2.06, adjusted for items impacting comparability; this is an increase from previous expectations of $2.03-$2.06 on that same basis. This guidance excludes any fiscal 2013 EPS benefit related to the Ralcorp acquisition, which will be quantified in due course after the transaction closes. Full Article
Ralcorp acquisition drags down ConAgra profit
- ConAgra Foods Inc reported a sharp drop in third-quarter profit, mainly due to costs related to its Ralcorp acquisition, but the maker of Chef Boyardee pastas and Hunt's ketchup maintained its forecast for full-year adjusted profit.
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