US: General Mills launches note buyback
US cereal giant General Mills has launched a modified Dutch auction cash tender offer to buy back up to US$250m of its outstanding notes.
The company said yesterday (12 April) that it is making the offer for its 6% notes due in 2012 and its 5.65% notes, also due in 2012.
The company said that it will set the price, which remains to be determined, based on a mix of the yield and a bid spread range associated with the notes.
General Mills expects to use a combination of cash on hand and the proceeds from the issuance of commercial paper to fund the purchase.
Companies: General Mills
The battle to buy United Biscuits apparently now has an Eastern flavour....
The managing director of General Mills' operations in the UK, Ireland and the Nordic region, has been elected president of UK industry body the Food and Drink Federation (FDF)....
General Mills has expanded its Pillsbury biscuits line in the US with the launch of two products....
- Interview: Mondelez eyes sweet success in China
- Interview: Mondelez's outlook for China
- General Mills on Q1, innovation, margins
- How food companies involve staff in sustainability
- The benefits of engaging staff in sustainability
- Ireland unveils national plan to tackle obesity
- Aryzta FY profits fall
- Nestle close to finalising Garoto deal
- ConAgra acquires Frontera Foods' "gourmet" brands
- Aryzta appoints Gary McGann as chairman
- Global Chocolate Confectionery Overview: Challenges, Opportunities and Risks
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Global Foodservice Market 2016-2020
- Constellation Brands, Inc. (STZ) - Financial and Strategic SWOT Analysis Review
- Global Food and Drinks Closures: Performance and Opportunities