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General Mills Shares, Options Climb on Takeover Speculation

General Mills Inc. climbed to the highest level since June and options traders boosted bullish wagers on speculation that the maker of Cheerios cereal and Progresso soup may be acquired by Nestle SA.

The shares climbed 0.8 percent to $38.21 as of 4 p.m. in New York, while the most-active bullish options were May $39 calls, which accounted for almost half of all bullish trades. The shares have climbed 7.4 percent this year.