_http://startribune.com/stories/535/4811231.html_
(http://startribune.com/stories/535/4811231.html)
Nestlé SA, the world's largest foodmaker, is considering making a bid to buy
Golden Valley-based General Mills Inc., Bloomberg News reported Thursday
night.
The Bloomberg report cited only anonymous sources said to be familiar with
Nestlé's plans. Attempts by the Star Tribune to reach a General Mills spokesman
late Thursday were unsuccessful.
Nestlé, based in Switzerland, has not yet approached General Mills, and no
agreement is imminent, Bloomberg said.
The two companies have cooperated for 15 years in selling cereals under a
joint venture. Under that joint-venture agreement, Nestlé is barred from making
a hostile bid to acquire General Mills, according to General Mills' filings
with the U.S. Securities and Exchange Commission. That restriction can be
voided only by mutual consent, Bloomberg said.
Before the report, shares of General Mills fell 14 cents Thursday to $45.65.
The stock, which has gained less than 1 percent this year, peaked at $52.86
in December 2001.
General Mills' profit last quarter rose less than 1 percent, its smallest
gain in more than a year, as consumers adhering to low-carbohydrate diets bought
fewer cake mixes and less cereal. Shipments by the company's bakery unit
declined 13 percent in the latest quarter, while volume sales of cereals
declined 2 percent in the period. Profit also was limited by rising prices for
commodities such as wheat and oils.
Ruth Scuderi, IBCLC, RLC
Westfield, MA
***********************************************
To temporarily stop your subscription: set lactnet nomail
To start it again: set lactnet mail (or digest)
To unsubscribe: unsubscribe lactnet
All commands go to [log in to unmask]
The LACTNET mailing list is powered by L-Soft's renowned
LISTSERV(R) list management software together with L-Soft's LSMTP(R)
mailer for lightning fast mail delivery. For more information, go to:
http://www.lsoft.com/LISTSERV-powered.html
|
