General Mills buying Tyson Foods pet treats business for $1.2 billion

Pet foods, already a big seller for General Mills Inc., is about to get bigger: The company plans to buy the pet-treats business of Tyson Foods Inc. for $1.2 billion. The Golden Valley-based company said in a statement that the purchase includes an estimated tax benefit of $225 million, giving the Tyson business an effective price of $975 million. The deal also gives General Mills a manufacturing facility located in Independence, Iowa. Tyson Foods (NYSE: TSN), based in Springdale,...