ConAgra to Buy Ralcorp for $5B: Hot Trends
The newly combined company will be the biggest private-label packaged food business in North America. The deal is valued at $6.8 billion including debt, according to ConAgra. Ralcorp shareholders will receive $90 a share in cash, a 28.2% premium to Monday's close.
Ralcorp rejected several of ConAgra's offers last year, choosing instead to spin off its Post cereal business. Ralcorp's product line also includes pasta, snacks, sauces and frozen baked goods.
ConAgra, which has brands including Chef Boyardee and Egg Beaters, said the deal will add to earnings in the first year. The combined company will have sales of about $18 billion annually.
Apple(AAPL) is trending as the company announced the new iMac will be available on Friday, Nov. 30.
The new computer will feature a 21.5-inch screen, faster processors and Fusion Drive, a new storage option. The computer will be available though the Apple Online Store, in Apple retail stores and select Apple Authorized Resellers. A 27-inch iMac will be available for order through the Apple Online Store and will start shipping in December.
The new iMac is 5mm thin -- 80% smaller than the previous line of iMacs. It's also eight pounds lighter than its predecessors.
The 21-inch iMac starts at $1,299, while the 27-inch version begins at $1,799.
Lehman Brothers is another popular search. Lehman Brothers Holdings is selling apartment-building owner Archstone Enterprise LP for $6.5 billion in cash and stock to Equity Residential(EQR) and AvalonBay Communities(AVB) .
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move.
-- Written by Brittany Umar.