[AP] - General Mills says it has entered into exclusive negotiations to buy a majority stake in French yogurt company Yoplait. The binding offer with PAI Partner and Sodiaal, the owners of Yoplait S.A.S., would beat out rivals bidding for the company.
General Mills, Inc. (NYSE:GIS) is scheduled to report second-quarter earnings before market open tomorrow. The producer and seller of breakfast cereals has hardly shined in the past several quarters but there are a few bright spots in its vast portfolio of breakfast brands.
The owners of Yoplait said Friday they were in exclusive negotiations with the French yogurt maker's longtime American partner, General Mills, to sell just over a 50 percent stake in the company for about 800 million euros.