Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Post Holdings eyes Lamb Weston * Raisin Bran cereal maker Post Holdings Inc. held talks to merge with ConAgra Foods Inc.'s Lamb Weston frozen potato products unit, said a source familiar with the matter.

The talks have stalled but could be revived, the source said on Tuesday.

A potential deal between Brentwood-based Post Holdings and Omaha, Neb.-based ConAgra could value Lamb Weston at around $6 billion, said another source with knowledge of the matter.

ConAgra, the maker of Chef Boyardee pasta and Slim Jim beef jerky, said in November last year that it would spin off its Lamb Weston business into a separate, publicly listed company.

The Wall Street Journal first reported the talks Tuesday.

The two companies were discussing a Reverse Morris Trust structure for the deal, the first person said. A Reverse Morris Trust is a tax-free deal in which one company merges with a spun- off unit.

ConAgra spokesman Mike Cummins said the company did not comment on rumors or speculation.

Post Holdings was not immediately available for comment.

Boeing inks Iran deal * Boeing Co. said Tuesday it signed an agreement with Iran Air "expressing the airline's intent" to buy its aircraft, setting up the biggest business deal between the Islamic Republic and the U.S. since the 1979 U.S. Embassy takeover in Tehran.

One Iranian official has said the deal could involve 100 aircraft, while another has suggested Iranian airlines may purchase airplanes worth $25 billion from Chicago-based Boeing, welcome news to workers at its massive assembly plants around Seattle.

However, the long-standing enmity between the U.S. and Iran, as well as other sanctions and even presidential politics still could complicate any agreement.

Boeing issued a statement to The Associated Press saying that it signed the Iran Air agreement "under authorizations from the U. …

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