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Diamond Foods, Inc. Message Board

  • lawstuff22 lawstuff22 Feb 16, 2012 1:48 PM Flag

    Whats Wrong with this NEWS?

    Date: Thursday, February 16, 2012, 11:41am EST
    Manufacturing, Food, Consumer Goods, Mergers and Acquisitions
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    Kelloggs to buy Pringles

    Kellogg Co. will purchase Procter & Gamble Co.'s Pringles for $2.7 billion.

    Now that Kellogg Co. has stepped in to buy the Pringles brand from Procter & Gamble Co. , there’s speculation the Battle Creek, Mich.-based cereal giant might buy Diamond Foods Inc. , too.

    The speculation follows Wednesday’s news that Kellogg (NYSE: K) will buy P&G’s (NYSE: PG) Pringles for $2.7 billion after an accounting scandal killed Diamond’s deal to buy the chip maker.

    “They’re clearly a fit in the portfolio,” Kellogg CEO John Bryant told Reuters. “You could say our ability to do bolt-on acquisitions has probably expanded with the addition of this business.”

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