FTC Vote Allows General Mills Purchase of Pillsbury

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.