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Article: Ralston Purina to Spin Off Agribrands International; Value Uncertain.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- March 20, 1998
CopyrightCOPYRIGHT 1998 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Jerri Stroud, St. Louis Post-Dispatch Knight Ridder/Tribune Business News
Mar. 20--Ralston Purina Co. shareholders will get a new spinoff stock for their portfolios in less than two weeks -- Agribrands International Inc.
Analysts haven't quite pinned down the stock or its estimated value. Shareholders will get a share of Agribrands for every 10 Ralston shares they own. The spinoff is effective April 1, but when-issued trading will begin March 27.
The value of Agribrands is "one of the great mysteries of modern times," quipped Steve Galbraith, an analyst with Sanford C. Bernstein & Co.
He expects initial trading in the ...