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Ralcorp shares gain; hedge fund presses for action

MarketWatch – An activist hedge fund on Thursday called on Ralcorp Holdings Inc. to sell itself or explore other strategic options, voicing displeasure over the private-label food maker’s performance since rejecting a $5.2 billion buyout offer from ConAgra Foods Inc. last year.

Corvex Management LP, while disclosing a 5.13% stake in Ralcorp consisting of stock and options, said disappointing earnings, an inability to file quarterly financials on time and poor communication with investors and analysts have hurt Ralcorp’s share price.

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