P&G (PG) Closes Sale of Pringles; Sees 47-50c/Share Gain
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The Procter & Gamble Company (NYSE: PG) has completed the sale of its Pringles business to Kellogg in a $2.695 billion all-cash transaction effective June 1, 2012. The Company expects an after-tax gain on the transaction in the range of $1.4 billion to $1.5 billion, or approximately $0.47 to $0.50 per share.
With completion of the sale, the Pringles workforce including the manufacturing resources in Jackson, Tennessee, and Mechelen, Belgium, will transfer to Kellogg.
With completion of the sale, the Pringles workforce including the manufacturing resources in Jackson, Tennessee, and Mechelen, Belgium, will transfer to Kellogg.
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