Article Abstract:
General Mills has acquired Pillsbury from Diageo PLC for $10.5 billion, although the deal has yet to gain regulatory approval. General Mills of Minneapolis, MN, owns the Betty Crocker, Yoplait and Columbo brands while Pillsbury has its line of dough products. Steve Sanger, CEO of General Mills, says the companies' Canadian operations might be combined since both have the same size. General Mills is also mulling the sale of Pillsbury's desert business since it overlaps with its Betty Crocker business and possibly the Green Giant canned vegetables business.
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The Canadian Assn of Petroleum Producers is launching a TV and print ad campaign to mitigate consumers' concern over the rising costs of fuel. The association is made up of companies that explore and produce 95% of the oil and natural gas in Canada. The campaign, created by Axmith McIntyre Wicht, will focus on environmental issues. David MacInnis, the group's VP for public affairs, says marketing research shows consumers will only listen to their views on economic issues only if they learn about environmental issues first.
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Quebecor Inc's Web news site, Canoe.ca, has acquired financial site iMoney.com to strengthen its position in the Canadian Internet market. Company officials hope that iMoney.com's investment analysis and portfolio-tracking tools will double visitor traffic of the site and reach 30 million page views a month. The acquisition of iMoney.comn was prompted by the growing popularity of portal rivals such as Globeandmail.ca, Sympatico.ca, Yahoo.ca and Canada.com.
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