Ralcorp Holdings Inc. (RAH) announced Wednesday morning that it has completed the acquisition of Petri Baking Products Inc. Ralcorp expects the transaction to deliver $0.05 of GAAP accretion and $0.08 of cash accretion to adjusted diluted earnings per share in the first year of ownership.
Ralcorp Holdings gapped open sharply lower Wednesday, but traded in a range throughout the session. Shares finished down by 3.72 at $65.70 on the highest volume in 2 months. The stock has been declining for the past 3 weeks and set a new low for the year.
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