Nestle Takes Majority Stake in Dreyer's

EDS says it plans to acquire Loudcloud's Internet-hosting business, and more merger news

Nestle SA says it will fold its U.S. ice-cream business into Dreyer's Grand Ice Cream (DRYR ) in return for majority control of the company for around $2.5 billion. The deal calls for Dreyer's to issue 55 million new shares for Nestle's novelties and Haagen-Daz businesses, raising Nestle's stake to 67% from its current 23% holding in Dreyer's. In 2006, Dreyer's shareholders receive the right to sell shares to Nestle for $83 a piece. (6/17)

To continue reading this article you must be a Bloomberg Professional Service Subscriber.