NESTLE AND DREYER
July 1st, 2002
BY MONICA DOBIE
Nestlé SA and Dreyer's Ice Cream Inc. have agreed on a merger deal that will eventually see Nestlé owning Dreyer's entirely. Under the agreement, Nestlé will merge its US ice cream business into Dreyer's brand, the best selling packaged ice cream in America. Nestlé will receive 55 million newly issued Dreyer's shares, boosting its stake to 67 per cent from 23 per cent. Also, Dreyer's shareholders will sell their shares to Nestlé for US$83 in 2006 with Nestlé having the option of calling outstanding Dreyer's shares for US$88 per share.
Nestlé SA and Dreyer's Ice Cream Inc. have agreed on a merger deal that will eventually see Nestlé owning Dreyer's entirely. Under the agreement, Nestlé will merge its US ice cream business into Dreyer's brand, the best selling packaged ice cream in America. Nestlé will receive 55 million newly issued Dreyer's shares, boosting its stake to 67 per cent from 23 per cent. Also, Dreyer's shareholders will sell their shares to Nestlé for US$83 in 2006 with Nestlé having the option of calling outstanding Dreyer's shares for US$88 per share.
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