Monday, November 20, 2017
 
 
News: Page (1) of 1 - 02/15/12 Email this story to a friend. email article Print this page (Article printing at MyDmn.com).print page facebook
Diamond's Pringles deal ended; Kellogg steps in
Diamond Foods drops bid to purchase Pringles brand, Kellogg steps in with $2.7B offer
By The Associated Press

NEW YORK (AP) ' Diamond Foods Inc. and Procter & Gamble Co. have called off their $1.5 billion deal for Diamond to buy the Pringles brand. Cereal maker Kellogg Co. is swooping and made a $2.7 billion deal to purchase the brand.

Diamond Foods, which makes Emerald Nuts and Pop Secret popcorn, and Procter & Gamble said Wednesday that they mutually agreed to end their proposed deal.

The news comes a week after Diamond Foods said it was replacing its CEO and CFO after an internal investigation found that the company improperly accounted for payments to walnut growers and it needs to restate two years of financial results.



No breakup or other fees will be paid related to the deal's termination.

Kellogg says it expects to complete the Pringles acquisition during the summer.


Page: 1


 
 
 
 
 
 
 
 
 
 
 





Our Privacy Policy --- About The U.S. Daily News - Contact Us - Advertise With Us - Privacy Guidelines