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BUFF - Blue Buffalo Pet Products Inc News Story

$40 0.0  0.1%

Last Trade - 24/04/18

Consumer Defensives
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £982.8m
Position in Universe th / 6408

BUZZ-General Mills prices $1 bln share offering at small discount

Wed 28th March, 2018 11:40am
** General Mills  GIS.N  shares off 1.4 pct premarket as co
raises equity in connection with its Blue Buffalo  BUFF.O 
    ** GIS offers 22.7 mln shares at $44.00, about a 3 pct
discount to stock's Tuesday's close*:nPn4T0Z5Ma
    ** Notable that offering over-allotment option is 10 pct vs
standard 15 pct; that means General Mills can issue no more than
25 mln shares even if the underwriters exercise the full option
    ** In filing, co said also looks to issue approx $6 bln in
unsecured notes as additional financing for the merger
    ** General Mills' profit warning and share sell off last
week prompted concerns over a more dilutive equity transaction
to close the purchase*:nL1N1R908B
    ** GIS was resilient on Tuesday, even as equities rolled
over late in the session. Stock closed up a penny at $45.31
    ** S&P Staples  .SPLRCS  and other bond proxy sectors
Telecom  .SPLRCL , Utilities  .SPLRCU  and Real Estate  .SPLRCR 
were the only groups in positive territory yesterday as U.S.
Treasury yields rallied*:nL1N1R91D9
    ** Still, General Mills is worst staples stock YTD, down ~24

 ((RM: 646-223-5017))
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