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HomeBusinessGeneral Mills Is Raising $1 Billion For Blue Buffalo Purchase - CWEB.com

General Mills Is Raising $1 Billion For Blue Buffalo Purchase – CWEB.com

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General Mills Is Raising $1 Billion For Blue Buffalo Purchase – CWEB.com

General Mills (NYSE:GIS) announces a secondary offering of about $1Billion worth of stock, with underwriter greenshoe of up to $100M.

Proceeds will be used to help fund the Blue Buffalo Pet Products acquisition.

General Mills intends to use the net proceeds from the Equity Offering, together with the net proceeds from a contemplated senior unsecured notes offering (the “Notes Offering”), the incurrence of debt under General Mills’ U.S.commercial paper program and cash on hand to finance its previously announced acquisition (the “Acquisition”) of Blue Buffalo Pet Products, Inc. (“Blue Buffalo”) and to pay related fees and expenses.

Goldman Sachs & Co. LLC and BofA Merrill Lynch are acting as joint book-running managers and representatives of the underwriters for the Equity Offering. Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC are also acting as joint book-running managers for the Equity Offering.

General Mills is a leading global food company that serves the world by making food people love. Its brands include Cheerios, Annie’s, Yoplait, Nature Valley, Fiber One, Häagen-Dazs, Betty Crocker, Pillsbury, Old El Paso, Wanchai Ferry, Yoki and more. Headquartered in Minneapolis, Minnesota, USA, General Mills generated fiscal 2017 consolidated net sales of $15.6 billion, as well as another $1.0 billion from its proportionate share of joint-venture net sales.

CWEB Analyst’s have Reiterated a Buy Rating for  General Mills (NYSE:GIS)    and a Price Target of $79 within 12 months.

Read Full Article and Videos  CWEB.com – Trending News, Blog, Shopping

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