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NEW YORK–General Mills’ $6.1 billion purchase of Pillsbury from Diageo PLC was allowed to move forward Tuesday when the FTC failed to produce a majority vote against the merger. The 2-2 vote, which split on party lines, was conducted without commission chairman Timothy Muris, who recused himself because he recently worked for a law firm that represented General Mills.
If approved by stockholders, the new company will have combined annual sales of about $13 billion, making it the world’s fifth-largest packaged food company.
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