Kraft Foods to spinoff (actually split-off) Post Cereal that will merge with a Ralston company.
Deal Announced 11/15/2007:
On 11/15/07 Kraft Foods announced an agreement to spinoff Post Cereals. Post will then merge into Ralston (Ralcorp).
This deal is supposed to close around the middle of 2008.
If you owned The Altria Group (the old Philip Morris) before March 30, 2007, you might now own Kraft Foods.
Figuring your Kraft Foods and Ralcorp tax basis could be very time consuming. However, if you have the Altria-Kraft-Philip Morris Basis Calculator, this computation is done automatically. This program will help those with Ralcorp (Ralston) shares acquired through Kraft Foods. (The program will not be needed if you acquired Ralcorp before the Kraft Foods splitoff - merger.)
Details Announced 6/16/2008:
Kraft Foods will spin off (actually a split-off) Post Cereals which will then merge into Ralston (Ralcorp).
This deal is supposed to close around 8/4/2008.
The distribution and allocation ratios have not been announced.
Kraft Foods Announcement June 16, 2008:
Kraft Foods shareholders will have the option to exchange some or all shares in Kraft Foods for shares in Ralcorp.
Ralcorp (Ralston) Shareholders Approve of Merger on July 17, 2008:
Ralcorp shareholders approved the Post Cereals (a Kraft Foods subsidiary) merger on July 17th.
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Altria-Kraft-Philip Morris Basis Calculator
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Cost Basis Calculation:
The Kraft Foods and Ralcorp (for stock acquired through this merger) tax cost basis can most easily computed using the Altria-Kraft-Philip Morris Basis Calculator. You can order the Denver Tax Software, Inc. Altria-Kraft-Philip Morris Basis Calculator.
See the Kraft Foods News Release November 15, 2007.
See the Kraft Foods News Release June 16, 2008.
See the Kraft Foods News Release June 25, 2008.
See the Ralcorp News Release July 17, 2008.
See the Kraft Foods News Release August 4, 2008.
Get more information about the Altria-Kraft-Philip Morris Basis Calculator