Procter & Gamble
If Diamond were able to complete the deal, it would triple revenues to around $2.4 billion a year, moving the company into the No. 2 slot in the snack business. If P&G is able to get out of the deal, however, it should be able to find a buyer for the popular brand, meeting or exceeding the $1.5 billion it was expected to receive from Diamond.
Other options abound
If P&G can put the Diamond deal behind it, others may step up to claim the Pringles prize. PepsiCo
What will happen?
Depending on the conditions of the original sale, Procter & Gamble may have some costs associated with canceling the Pringles deal with Diamond. If it does, it should be able to make up for any hit by finding another buyer for its tasty potato crisps. Keep an eye on future developments of this story by adding Procter & Gamble to My Watchlist.