July 13, 2000 - General Mills is in talks to buy Pillsbury from London based food and drinks conglomerate Diageo (dee-AHZ-ee-oh) for as much as 11-billion dollars. A deal is far from certain, and General Mills is not the the only potential buyer. But a sale would bring Pillsbury's corporate headquarters home, and could prevent another company from taking over General Mills. Minnesota Public Radio's Andrew Haeg reports.
July 13, 2000 - The strike at the Pepsi bottling plant in Burnsville has entered its second month, and there's no end in sight. About 450 workers who bottle and deliver Pepsi products in the Twin Cities area walked off the job in mid-June. They say the company's last offer fell short on several issues, including retirement and health care benefits. Kelly McAndrew is a spokewoman at Pepsi Bottling Group's headquarters in New York. She's on the line now.
July 13, 2000 - Governor Jesse Ventura says he is going to get more involved in the possible sale of Northwest to American Airlines. American has offered 3-point-7 billion dollars for Northwest, but the Minnesota-based airline has asked for more than double that amount, as negotiations over price continue. The Ventura administration issued a statement yesterday saying the Governor will be more active in representing the interests of the state. Joining us on the line is the governor's communications director, John Wodele.
July 13, 2000 - DFL Senate candidate Mark Dayton has started his advertising blitz, spending more than 300-thousand dollars on television ads running statewide this week. Dayton is the third Democrat to buy up large chunks of airtime before the September primary. Attorney Michael Ciresi has had ads on the air for months, and DFL'er Rebecca Yanisch just finished a big television ad buy. In the latest in our series of Ad Watches, Minnesota Public Radio's Laura McCallum talks with analyst Dean Alger about the Dayton and Yanisch ads...
July 14, 2000 - General Mills got its start in 1866 when Cadwallader Washburn built his first flour mill on the banks of the Mississippi. Three years later Charles Pillsbury arrived in Minnesota and bought a mill himself. David Wiggins is a historian at the Minnesota Historical Society. He's come by the studio this morning. Historian David Wiggins.
July 17, 2000 - Consultants to the Metropolitan Airports Commission say if American Airlines buys Minnesota-based Northwest, the Twin Cities would likely remain a hub. But they say there would be fewer flights and airfares would probably increase. Today the MAC voted unaminously to oppose the United US Airways deal which industry observers say would trigger consolidation throughout the airline industry. Minnesota Public Radio's Mark Zdechlik reports...
July 17, 2000 -
July 17, 2000 - Golden Valley-based General Mills Inc. is buying control of Minneapolis-based Pillsbury in a 10.5 billion dollar stock-for-stock deal that would create one of the world's largest food companies. General Mills will issue 141 million new shares of common stock to Diageo, Pillsbury's London-based parent company, in exchange for control of Pillsbury. The combination would nearly double the size of General Mills to about $13 billion in annual sales. Daniel Peris is an analyst with Argus Research.
July 17, 2000 - General Mills' acquisition of Pillsbury is just the latest merger in a wave of corporate consolidation. Professor Lawrence White teaches Economics at New York University. He says unlike the 1980s, when most deals were an attempt to restructure a company's finances ... mergers today are often the result of new business opportunities.
July 17, 2000 - The fate of Northwest Airlines may not be known for weeks or months. But a number of observers say Northwest holds considerable leverage over American Airlines in merger negotiations. The two airlines began talks days after United Airlines stunning announcement in May that the nation's biggest air carrier had reached an agreement to buy US Airways. That deal has shaken up the airline industry, and may yet be rejected by federal regulators. Any sale of Northwest would probably mean a huge payday for the company's two most prominent investors, Al Checchi and chairman Gary Wilson. Minnesota Public Radio's Bill Catlin reports.