General Mills confirms Pillsbury talks

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General Mills said it is in merger talks with Diageo for its Pillsbury foods unit. Analysts say they believe the talks between the two companies, which share synergies in baking mixes, meal solutions and refrigerated products, are at an advanced stage and that an agreement could be announced shortly. General Mills agencies include DDB Worldwide, Chicago; Campbell Mithun, Minneapolis; and Saatchi & Saatchi, New York. At Pillsbury and its Green Giant and Haagen-Dazs units, agencies include Leo Burnett USA, Chicago, and FCB Worldwide, San Francisco.

Copyright July 2000, Crain Communications Inc.

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