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General Mills Receives Antitrust Clearance for Blue Buffalo Acquisition

March 19, 2018

MINNEAPOLIS, March 19, 2018 /PRNewswire/ -- General Mills, Inc. (NYSE: GIS) today announced that on March 16, 2018, the U.S. Federal Trade Commission granted early termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.  With the receipt of this clearance, the condition of the announced merger transaction for all issued and outstanding shares of common stock of Blue Buffalo Pet Products, Inc. (NASDAQ: BUFF) at a price of $40.00 per share with respect to clearance under applicable antitrust and competition laws has been completely satisfied.

The closing of the transaction remains subject to the satisfaction of certain other conditions.  General Mills continues to expect the transaction to close by May 2018.

About General Mills
General Mills is a leading global food company that serves the world by making food people love.  Its brands include Cheerios, Annie's, Yoplait, Nature Valley, Fiber One, Häagen-Dazs, Betty Crocker, Pillsbury, Old El Paso, Wanchai Ferry, Yoki and more.  Headquartered in Minneapolis, Minnesota, USA, General Mills generated fiscal 2017 consolidated net sales of US $15.6 billion, as well as another US $1.0 billion from its proportionate share of joint-venture net sales.

SOURCE General Mills, Inc.

For further information: General Mills: (analysts) Jeff Siemon: 763-764-2301; (media) Bridget Christenson: 763-764-6364

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