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Grand Metropolitan, the British liquor, retailing and...

Grand Metropolitan, the British liquor, retailing and food conglomerate, said it has lined up the bank financing that it needs for its proposed $5.2-billion takeover of Minneapolis-based Pillsbury. Meanwhile, Pillsbury’s chairman accused Grand Met of waging a one-sided “blitz campaign” to tout its offer and hinted that a takeover would likely result in major job cuts. Philip Smith said the British company was trying to “stampede” shareholders and others into believing that the offer was “good for all our constituents.”


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