General Mills, Inc. (GIS) Stock Pops on Takeover Talk

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General Mills, Inc. (NYSE:GIS) shares were higher on a rumor that the company may be ready to be taken over by someone bigger.

General Mills, Inc. (GIS) Stock Pops on Takeover TalkThere are rumblings on Twitter surrounding the company’s upcoming fate, but none of the rumors seem as detailed as one would like, with no information regarding what kind of price or price per share the company would attract.

“REPORT: Unknown newswire issued untrue story on 3G Capital takeover of General Mills: ,” was posted @theflynews.

General Mills not commenting on takeover speculation ,” the same Twitter handle noticed, leaving a lot of questions up in the air.

Swiss investor Marc Faber was contacted later in the morning by CNA Finance, who confirmed that the General Mills takeover rumors are simply not true. Some are way, however, as the company may be trying to keep this plan under wraps for the time being.

The company also recently unveiled a new boss as Jeffrey Harmening will be taking over as CEO, replacing Ken Powell once he retires over the summer. Powell spent the better part of a decade with General Mills, helping the company’s cereal brand increase over the years.

GIS stock grew 1.6% during regular trading hours Thursday.


Article printed from InvestorPlace Media, https://investorplace.com/2017/05/general-mills-inc-gis/.

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