well, Rah has just snubbed a Conagra offer of $5.17 billion--the 4th offer from that company to be denied. that's $86 a share.
as a Cag shareowner i think it's high time we quit wooing Rah.
I'm thinking $97 gets the RAH keys. Based on the options I think it gets done too. Just take a look at the July 90 call today. 1 buyer for 1500 calls on the open @ $3.50. For half a $million someone thinks this stock is going over $93.50
maybe to 90....tops, or at least it should be no higher/ Cag erred in not going full-out on its $86 offer. as it was, the offer merely touched off the prospect of a bidding war and the stock price naturallly rose.
if i were Conagra i would have come forward with an $86 offer earlier in the game and told RAH that was the best and final offer and if you dont like it...nice knowing you and goodbye.
i think the prospect of a deal is toast. just guessing.