WHEN: FRIDAY, APRIL 29, 2011
WHERE: CNBC'S "FAST MONEY HALFTIME REPORT"
Below is an unofficial transcript of breaking news from CNBC's Kayla Tausche on "Fast Money Halftime Report."
All references must be sourced to CNBC.
MELISSA LEE: ALRIGHT GUYS WE GOT SOME BREAKING NEWS I WANT TO GO TO THE BREAKING NEWS DESK KAYLA TAUSCHE HAS THE LATEST KAYLA
KAYLA TAUSCHE: THANKS SO MUCH MELISSA. SOME DEAL NEWS HERE. IVE LEARNED CONAGRA SENT A LETTER TO THE BOARD OF RALCORP MAKING AN UNSOLICITED OFFER TO BUY THE COMPANY AND THIS APPROACH WAS MADE ABOUT 2 MONTHS AGO WHEN THE PREMIUM TO THE STOCK PRICE THEN WAS SAID TO BE NICE. YOU CAN SEE THE STOCK HAS RUN UP QUITE A BIT SINCE THEN WHICH MAY COMPLICATE PRICING FOR AN ACTUAL DEAL TO HAPPEN IM TOLD THERE ARE NO ONGOING DISCUSSIONS BOTH COMPANIES HAVE BEEN PLAGUED THOUGH AS WE KNOW BY COMMODITY PRICES CONAGRA OWNS BRANDS LIKE SLIMJIM AND CHEF BOYARDEE RALCORP PRIMARILY MAKES STARCHES LIKE COOKIES AND PASTA BUT LETS REMEMBER AFTER THE FAILED BUYOUT OF SARA LEE EARLIER THIS YEAR THERE HAVE BEEN QUESTIONS SURROUNDING THE FATE OF BOTH CONAGRA AND RALCORP THIS IS POTENTIALLY A MOVE TO CIRCUMVENT THAT SPECULATION.
LEE: KAYLA THANKS SO MUCH FOR THAT REPORT.
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