USA: Interstate Bakeries announces agreement with Nestlé for stock buyback
Interstate Bakeries Corporation (IBC), the largest wholesale bakery in the US, has reached an agreement with Swiss food behemoth Nestlé to purchase approximately 7.4 million shares of IBC stock currently owned by Nestlé. Nestlé owns approximately 14.8 million IBC shares (approximately 29% of IBC's outstanding shares) which were acquired in its acquisition of Ralston Purina in December 2001.
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