Takeovers Proving Toxic for Arbitragers as Higher Bids Disappear: Real M&A
By Tara Lachapelle and Joseph Ciolli
Ralcorp Holdings Inc. (RAH) and Temple- Inland Inc. are losing more money than ever for traders betting on higher takeover offers.
Ralcorp, the biggest U.S. maker of store-brand foods, lost $470 million last week, falling below an unsolicited proposal from ConAgra Foods Inc. (CAG) for the...