General Mills Launches $1 Billion Stock Offering to Fund Pet-Food Deal
March 26 2018 - 5:30PM
Dow Jones News
By Imani Moise
General Mills Inc. said Monday that it would offer $1 billion
worth of its common stock to fund its roughly $8 billion
acquisition of pet-food maker Blue Buffalo Pet Products Inc.
Should the deal fall through, the company said it would use the
proceeds of the offering for general corporate purposes.
The Blue Buffalo transaction is expected to be completed by
May.
Shares fell 1.7% to $44.55 in extended trading, after logging a
2.5% increase during Monday trading. The stock has fallen 24% so
far this year, while the S&P 500 has dropped 0.6%.
Write to Imani Moise at imani.moise@wsj.com
(END) Dow Jones Newswires
March 26, 2018 17:15 ET (21:15 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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