May 4/St. Louis/Bloomberg -- ConAgra Foods Inc. offered to buy Ralcorp Holdings Inc. for about $4.9 billion, sweetening its bid to lure the largest U.S. store-brand foods maker into takeover negotiations.
The unsolicited cash offer is $86 a share, 32% more than Ralcorp’s closing price before the initial bid, ConAgra said. ConAgra first sent a letter of interest in March offering $82, a bid St. Louis-based Ralcorp snubbed.