{"id":27411,"date":"2012-02-15T22:46:21","date_gmt":"2012-02-16T03:46:21","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=27411"},"modified":"2012-02-15T22:46:21","modified_gmt":"2012-02-16T03:46:21","slug":"procter-gamble-sells-pringles-to-kellogg-for-2-7-billion","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/02\/15\/procter-gamble-sells-pringles-to-kellogg-for-2-7-billion\/","title":{"rendered":"Procter &#038; Gamble Sells Pringles To Kellogg For $2.7 Billion"},"content":{"rendered":"<p><div id=\"grabDiv1767162\"><object id=\"GrabPlayer1767162\" width=\"542\" height=\"304\" type=\"application\/x-shockwave-flash\" align=\"middle\" data=\"http:\/\/player.grabnetworks.com\/swf\/GrabOSMFPlayer.swf?id=1767162&#038;content=vaa64c107f3591ba9540583b059912f852c7a0c33&#038;tgt=grabnetworks\"><param name=\"quality\" value=\"high\"\/><param name=\"allowScriptAccess\" value=\"always\"\/><param name=\"allowFullScreen\" value=\"true\"\/><param name=\"menu\" value=\"false\"\/><param name=\"wmode\" value=\"transparent\"\/><param name=\"movie\" value=\"http:\/\/player.grabnetworks.com\/swf\/GrabOSMFPlayer.swf?id=1767162&#038;content=vaa64c107f3591ba9540583b059912f852c7a0c33&#038;tgt=grabnetworks\"\/><\/object><\/p>\n<div id=\"overlay-adzone\" style=\"overflow:hidden; position:relative\"><\/div>\n<\/div>\n<p>Procter &#038; Gamble (NYSE:PG) announced an agreement to sell its Pringles business to Kellogg (NYSE:K) in a deal valued at approximately $2.7 billion.Kellogg said it will take on $2 billion in debt to finance the purchase of the Pringles unit from P&#038;G.Kellogg expects the deal to be accretive to earnings by $0.08 &#8211; $0.10 per share before costs in 2012.P&#038;G had in April 2011 reached an agreement to sell the unit to Diamond Foods (NASDAQ:DMND) for $1.5 billion.P&#038;G expects an after tax gain on the transaction of $1.4 billion &#8211; $1.5 billion, or $0.47 &#8211; $0.50 per share.<\/p>\n<p><img src='http:\/\/cache.thenewsroom.com\/financial_news_network\/2012\/02\/15\/1_vvtwe1k5_thumb.jpg' \/><\/p>\n<p><!--post_img[http:\/\/cache.thenewsroom.com\/financial_news_network\/2012\/02\/15\/1_vvtwe1k5_preview.jpg]--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Procter &#038; Gamble (NYSE:PG) announced an agreement to sell its Pringles business to Kellogg (NYSE:K) in a deal valued at approximately $2.7 billion.Kellogg said it will take on $2 billion in debt to finance the purchase of the Pringles unit from P&#038;G.Kellogg expects the deal to be accretive to earnings by $0.08 &#8211; $0.10 per &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2012\/02\/15\/procter-gamble-sells-pringles-to-kellogg-for-2-7-billion\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Procter &#038; Gamble Sells Pringles To Kellogg For $2.7 Billion&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-27411","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/27411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=27411"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/27411\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=27411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=27411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=27411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}