February 23, 2018 09:17 AM
Twin Cities-based General Mills, Inc., and Blue Buffalo Pet Products, Inc., have announced an agreement in which General Mills will purchase the natural pet food company for a price of about $8 billion.
The $40-per-share transaction has been approved by the boards of directors at both companies and is expected to close by the end of General Mills' fiscal year in 2018.
A release said it is still subject to regulatory approvals and other closing conditions.
The release said General Mills expects to finance the transaction through a combination of debt, cash on hand and approximately $1 billion in equity.
Updated: February 23, 2018 09:17 AM
Created: February 23, 2018 09:08 AM
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