General mills continues portfolio reshaping strategy with acquisition of tyson foods' pet treats business

Minneapolis--(business wire)--general mills (nyse: gis) today announced that it has entered into a definitive agreement to acquire tyson foods' (nyse: tsn) pet treats business for $1.2 billion in cash in a transaction that provides an estimated tax benefit of $225 million, equating to an effective purchase price of $975 million. the business, which includes the nudges, top chews and true chews brands, is the leader in natural meat treats for pets. “this acquisition advances our accelerate strat
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