Dupont Strikes Deal With Ralston Purina
Ralston Purina Co. narrowed its focus to pet food and batteries Friday by announcing plans to sell its protein technologies business to the chemical giant DuPont Co. for $1.5 billion in stock.
Protein Technologies International is a leading supplier of soy proteins to the food and paper processing industries. Its products are used in processed meats, infant formula, soy milk, diet and sports drinks.
Analysts said Ralston - maker of such products as Purina Dog Chow - got a great price.
“Ralston literally got the offer they can’t refuse,” said Juli Nieman of Huntleigh Securities.