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twitterNestle buys Ralston Purina for $10 billion
Tuesday, Jan. 16, 2001 | 11:30 a.m.
THE ASSOCIATED PRESS
VEVEY, Switzerland -- Food giant Nestle S.A. is buying the U.S. pet food company Ralston Purina for $10 billion in cash, linking together such brands as Alpo, Purina, Friskies and Meow Mix.
Nestle, based in Vevey, Switzerland, will pay $33.50 per Ralston share, a 36 percent premium above the St. Louis-based company's Friday closing price of $24.63 on the New York Stock Exchange. Nestle will also assume $1.2 billion in debt,
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