USA: General Mills shareholders approve Pillsbury acquisition
At a special stockholders' meeting held here on Friday (8th December), General Mills (NYSE: GIS) shareholders approved the two proposals required in conjunction with General Mills' acquisition of The Pillsbury Company from Diageo, plc (LSE: DGE; NYSE: DEO). More than 97 percent of the shares voted were cast in favor of the proposal to issue 141 million shares of General Mills common stock to Diageo under the terms of the merger agreement. More than 71 percent of General Mills' total shares outstanding were voted in favor of amending the company's Restated Certificate of Incorporation to remove Article 5, which relates to shareholder approval for specified transactions between General Mills and holders of 10 percent or more of the company's common stock. The amendment will become effective at the time General Mills completes its acquisition of Pillsbury.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- 2017: three major drivers of M&A strategy
- just-food 2017 Survey - your thoughts on growth
- Food market in 2017: need-to-know US trends
- 2017 - what will shape the UK food sector?
- Could BRF's Turkey move pave way for OneFoods IPO?
- Premier Foods issues profit warning
- UK's Bakkavor plays down IPO "speculation"
- Ferrero insists Nutella not pulled from shelves
- Lindt sees FY sales acceleration on Europe growth
- Unilever sets packaging target