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Jul. 2, 2002

NESTLÉ USA CHURNS UP ITS ICE CREAM BUSINESS

Dreyer's Grand Ice Cream Inc. has agreed to acquire the ice cream business of Nestlé Holdings USA Inc., a subsidiary of Nestl S.A in exchange for 55 million shares. The deal is worth $2.6 billion. With this deal, announced June 16, Nestlé will increase its holdings in Dreyer's to 67 percent.

        Dreyer's Grand Ice Cream Inc. has agreed to acquire the ice cream business of Nestlé Holdings USA Inc., a subsidiary of Nestlé S.A in exchange for 55 million shares. The deal is worth $2.6 billion. With this deal, announced June 16, Nestlé will increase its holdings in Dreyer's to 67 percent.
        Oakland's Dreyer's makes and sells ice cream and other frozen desserts. ...

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