USA: General Mills says sale of Pillsbury Desserts business intended to gain regulatory clearance on Pillsbury merger
General Mills (NYSE: GIS) said today that the company is pleased with the agreement announced by International Multifoods Corporation (NYSE: IMC) to purchase the Pillsbury dessert and specialty products businesses. General Mills anticipates that the agreement will allow the Federal Trade Commission to complete its review of the desserts divestiture and the company's plans to acquire the remaining worldwide Pillsbury operations of Diageo plc (LSE: DGE; NYSE: DEO). Divestiture of Pillsbury's desserts and specialty products businesses was assumed in General Mills' acquisition plan.
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