Kraft Foods' Post cereals to merge with Ralcorp

Ralcorp Holdings Inc. on November 15 announced the signing of a definitive agreement with Kraft Foods Inc. to merge Post cereals with Ralcorp in an all-stock transaction. Post is the third-largest branded ready-to-eat cereal manufacturer in the United States, with more than 100 years of history in the industry. Post includes iconic brands such as Honey Bunches of Oats, the category's third-best-selling cereal, Pebbles, Post Selects, Spoon Size Shredded Wheat, Grape Nuts and Post Raisin Bran. The transaction is valued at approximately $2.6 billion, including the issuance and assumption of debt.