USA: General Mills and Diageo to Combine Their Worldwide Consumer Foods Operations
General Mills, Inc. (NYSE: GIS - news) and Diageo plc (LSE: DGE; NYSE: DEO) today announced that their boards of directors have unanimously approved a definitive agreement, under which General Mills will acquire Diageo's worldwide Pillsbury operations in a transaction valued at $10.5 billion. Under the terms of the agreement, General Mills will acquire Pillsbury in a stock-for-stock exchange.
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