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The $1.5 billion deal with Diamond Foods is put on hold.
November 29, 2011
By: TOM BRANNA
Editor
In its latest multibillion dollar deal, Procter & Gamble is left holding all the chips…and that’s not good. P&G’s attempt to sell its Pringles snack food unit to Diamond Foods Inc. for $1.5 billion has been put on hold while Diamond remains mired in an internal accounting probe and lawsuits. If and when completed, the acquisition would more than triple the size of Diamond’s snack food business. Diamond is investigating allegations of improper accounting for...
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