St. Louis Partners Noted in 'American Lawyer'
July 22, 2011
Partners Bill Seabaugh, Randy Wang and Phil Wright were noted by name July 18 in The American Lawyer
online as leading our representation of longtime client Ralcorp in a proposed Post Foods spin-off. St. Louis-based Ralcorp’s board of directors announced recently that it had agreed in principle to the tax-free spin-off, pending a ruling from the Internal Revenue Service. Ralcorp had more than $4 billion in revenue last year, and Post Foods represents about a fourth of its sales. Current Ralcorp shareholders would receive shares in both companies, and Post Foods would be listed on the New York Stock Exchange. Post Foods would issue between $1.1 billion to $1.2 billion in debt, with Ralcorp getting $1 billion in proceeds to reduce debt, fund acquisitions and other company expenses, the company said. The American Lawyer
article also noted that Bryan Cave had a lead role advising Ralcorp on its purchase of Post from Kraft Foods nearly four years ago, and that the firm represented Ralcorp last year on its $1.2 billion acquisition of American Italian Pasta.