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P&G to get nearly $2.7 billion in all-cash deal.
February 15, 2012
By: TOM BRANNA
Editor
Procter & Gamble Co. will sell its Pringles snack food business to Kellogg Co. in an all-cash transaction valued at nearly $2.7 billion. P&G pulled the plug on its deal to sell Pringles to Diamond Foods Inc., after Diamond became mired in an internal investigation which found that the company improperly accounted for payments to walnut growers and it needs to restate two years of financial results. As a result of that investigation, Diamond is replacing its CEO and CFO. Diamond Fo...
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