-- General Mills plans to borrow $3 billion in a public funding today. That's $1 billion more than company management had originally planned to borrow. The cash will be used to finance the recent General Mills purchase of Pillsbury Co. from Diageo Plc. (For a profile of Diageo's CFO, who's helped craft the company's aggressive M&A strategy, read Toast of the Town.)
-- GameStop Corp. raised about $326 million in the second biggest initial public offering of the year. The Barnes & Noble unit, which sells software for use on video game consoles, sold about 18.1 million shares at $18 apiece.
Short Take
Citing "best practices" in corporate governance, The Interpublic Group of Companies dumped four of its executives from its board of directors and added one outside director, Michael Roth. Roth is managing director at Gabriel Venture Partners. "The interests of Interpublic shareholders will be best served by a board that is primarily made up of independent, outside directors," said John Dooner, chairman and CEO, in a statement. Roth is a former CFO of financial services giant Primerica Corp.
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