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General Mills Mentioned as 3G Takeover Target by Citigroup

General Mills Products Ahead of Earning Figures
Photographer: Daniel Acker/Bloomberg
Updated on

General Mills Inc. may be a takeover candidate for 3G Capital, the private equity firm that has driven consolidation in the food industry with the help of Warren Buffett, according to Citigroup Inc.

Kraft Heinz Foods Co., created last year in the merger orchestrated by 3G, could acquire General Mills for $86 a share, Citigroup analyst David Driscoll said in a report on Tuesday. That would be a 37 percent premium to General Mills’ stock price as of the close on Monday.