Deals
Post Said to Reach $2.5 Billion Agreement for Michael Foods
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Post Holdings Inc. agreed to acquire Michael Foods Group Inc., the processing and distribution business controlled by Goldman Sachs Group Inc.’s private-equity arm, in a $2.5 billion deal, people with knowledge of the matter said.
The deal may be announced as soon as tomorrow, two people said, asking not to be identified discussing private information. The $2.5 billion deal includes the value of Michael Food’s debt, one person said. Post, the maker of Raisin Bran cereal, rose 5.7 percent to $54.73 at the close in New York, giving it a market value of about $2.1 billion.