UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 27, 1999
GENERAL MILLS, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-1185 41-0274440
(State of Incorporation) (Commission File Number) (IRS Employer
Identification No.)
Number One General Mills Boulevard
(Mail: P.O. Box 1113)
Minneapolis, Minnesota 55440
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (612) 764-2311
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Item 5. Other Events.
On September 27, 1999, the Board of Directors authorized a 2-for-1
split of General Mills' common stock effected in the form of a 100% stock
dividend. Each stockholder will receive one additional share of common stock for
each share owned as of the close of business on October 8, 1999. One additional
stock certificate will be mailed to each such stockholder on November 8, 1999.
The stock split does not result in any gain or loss for federal income tax
purposes.
The stock split will trigger adjustments to the Company's Preferred
Stock Purchase Rights (the "Rights") issued under the Rights Agreement, dated as
of December 11, 1995 (the "Rights Agreement"), between the Company and Norwest
Bank Minnesota, N.A., as Rights Agent. After the stock split, when and if the
Rights become exercisable, each Right will entitle the holder to purchase one
two-hundredth (1/200) of a share of the Company's Series B Participating
Cumulative Preference Stock ("Series B Preference Shares") for $120, rather than
the current one one-hundredth (1/100) of a share for $240. In addition, the
redemption price for the Rights will be reduced from $.01 per Right to $.005 per
Right. The Series B Preference Shares will also be adjusted as a result of the
stock split so that one two-hundredth of a Series B Preference Share will be
economically equivalent to one share of Common Stock. Reference is made to the
Rights Agreement, included as an Exhibit to the Company's Current Report on Form
8-K dated December 11, 1995, for a more complete description of the terms of the
Rights.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GENERAL MILLS, INC.
Dated: September 28, 1999 By: /s/ Ivy S. Bernhardson
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Ivy S. Bernhardson
Vice President, Associate General
Counsel and Secretary
