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Nestlé Trains Takeover Sights on America's General Mills

News, 04 June 2004

General Mills, the US manufacturer of breakfast cereals and soups, could be the next takeover target for the planet's largest food group, Swiss-headquartered Nestlé.

Although neither company was prepared to comment on this morning's report (Friday), it emanates from a usually impeccable source (Bloomberg News).

The twosome already liaise in a mutual cereal venture in the USA.

Bloomberg believes GM could realize up to $22 billion (€18.03bn; £11.96bn) based on a 26% five-year average premium paid by acquirers of other food companies.

Data sourced from: The Washington Post Online; additional content by WARC staff