Updated with further terms of the ConAgra/Ralcorp merger agreement
The purchase price is a 28.2% premium to Ralcorp's closing price Monday of $70.23.
Ralcorp shares were soaring in premarket trading Tuesday, up 26.7% to $88.99.The total value of the deal, including assumed debt, is $6.8 billion. A combined ConAgra/Ralcorp will have annual sales of about $18 billion, the companies said in a statement Tuesday. -- Written by Joseph Woelfel
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