Five companies, including packaged-food company ConAgra Foods
Inc. (CAG), unveiled share or unit offerings after hours.
ConAgra is offering to sell around $240 million of its shares,
in order to help fund its proposed $6.8 billion acquisition of
Ralcorp Holdings Inc. (RAH). The food company recently had a market
capitalization of roughly $12.2 billion. Shares of ConAgra fell
1.4% in after-hours trading Monday to $29.75.
Calumet Specialty Products Partners LP (CLMT) is offering 5
million shares, as it seeks to raise funds to repay debt and for
general purposes. The maker of oil and fuel products recently had
57.6 million shares outstanding. Shares fell 4.5% after hours to
$31.78.
Solar Capital Ltd. (SLRC) has initiated an offering of 6 million
shares. The investment firm plans to use the proceeds to pay down
borrowings and to acquire debt or equity securities. Solar Capital
recently had around 38.7 million shares outstanding. Shares were
down 2.4% to $24.31 after hours.
Tesoro Logistics LP (TLLP) is offering 8.5 million units
representing limited partner interests. The company plans to use
the proceeds to help fund its proposed acquisition of Chevron
Corp.'s (CVX) northwest products system, including a 760-mile
pipeline. Tesoro recently had 35.5 million units outstanding. The
equity was down 1% to $42.88 in after-hours trading.
Summit Hotel Properties Inc. (INN) has launched an offering of
13 million shares, intending to put the proceeds in part toward
planned acquisitions of Hyatt Hotels Corp. (H) properties, and to
pay down debt. The real-estate investment trust recently had 11.9
million shares outstanding. Shares closed Monday at $9.50 and were
unchanged after hours.
Write to Kristin Jones at kristin.jones@dowjones.com
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