P&G said it has
Jif and Crisco will be spun off, then immediately merged into Smucker. P&G shareholders will receive one share of Smucker for every 50 shares of P&G stock.
Grey Global Group's Grey Worldwide, New York, will handle the brands for Smucker as it has for P&G.
Jif and Crisco have combined sales of about $700 million.