Wachtell Helps Kellogg Pop Top On $2.7B Pringles Buy

Law360, New York (February 15, 2012, 1:28 PM EST) -- The Procter & Gamble Co. has struck a $2.7 billion cash deal to sell its Pringles brand to Kellogg Co., the companies said Wednesday, as P&G scrapped a plan to sell the crisp business to Diamond Foods Inc. 

Battle Creek, Mich.-based Kellogg said its purchase, which puts the globally available snack in its corporate pantry alongside household names including Keebler and Cheez-It, advances the company's goal of building a global snacks business that rivals its cereal business.

"Pringles has an extensive global footprint that catapults Kellogg...
To view the full article, register now.