By Imani Moise

General Mills Inc. said Monday that it would offer $1 billion worth of its common stock to fund its roughly $8 billion acquisition of pet-food maker Blue Buffalo Pet Products Inc.

Should the deal fall through, the company said it would use the proceeds of the offering for general corporate purposes.

The Blue Buffalo transaction is expected to be completed by May.

Shares fell 1.7% to $44.55 in extended trading, after logging a 2.5% increase during Monday trading. The stock has fallen 24% so far this year, while the S&P 500 has dropped 0.6%.

Write to Imani Moise at imani.moise@wsj.com

(END) Dow Jones Newswires

March 26, 2018 17:15 ET (21:15 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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