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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
AMENDMENT NO. 2
General Mills, Inc.
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(Name of Issuer)
Common Stock, $0.10
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(Title of Class of Securities)
370334104
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(CUSIP Number)
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Timothy D. Proctor
Diageo plc
Group General Counsel
8 Henrietta Place
London W1G 0NB
+44-207-927-5200
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
Copy to:
Richard C. Morrissey
Sullivan & Cromwell
1 New Fetter Lane
London EC4A 1AN
+44-207-959-8900
October 28, 2002
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
[ ].
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 or otherwise subject to the liabilities of the Act but shall be subject to
all other provisions of the Act (however, see the Notes).
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1 Name Of Reporting Persons/I.R.S. Identification Nos. of Above Persons
(Entities Only)
Diageo plc
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2 Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions)
(b) [ ]
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3 SEC Use Only
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4 SOURCE OF FUNDS (See Instructions)
N/A
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5 Check if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e) [ ]
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6 Citizenship or Place of Organization
England and Wales
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7 Sole Voting Power
NUMBER OF 0
SHARES -----------------------------------------------------
BENEFICIALLY 8 Shared Voting Power
OWNED BY 79,000,000
EACH -----------------------------------------------------
REPORTING 9 Sole Dispositive Power
PERSON 0
WITH -----------------------------------------------------
10 Shared Dispositive Power
79,000,000
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11 Aggregate Amount Beneficially Owned by Each Reporting Person
79,000,000
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12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
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13 Percent of Class Represented by Amount in Row (11)
21.5%
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14 Type of Reporting Person (See Instructions)
CO
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1 Name Of Reporting Persons/I.R.S. Identification Nos. of Above Persons
(Entities Only)
Diageo Holdings Netherlands B.V.
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2 Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions)
(b) [ ]
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3 SEC Use Only
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4 SOURCE OF FUNDS (See Instructions)
N/A
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5 Check if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e) [ ]
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6 Citizenship or Place of Organization
The Netherlands
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7 Sole Voting Power
NUMBER OF 0
SHARES -----------------------------------------------------
BENEFICIALLY 8 Shared Voting Power
OWNED BY 79,000,000
EACH -----------------------------------------------------
REPORTING 9 Sole Dispositive Power
PERSON 0
WITH -----------------------------------------------------
10 Shared Dispositive Power
79,000,000
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11 Aggregate Amount Beneficially Owned by Each Reporting Person
79,000,000
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12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
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13 Percent of Class Represented by Amount in Row (11)
21.5%
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14 Type of Reporting Person (See Instructions)
HC, CO
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1 Name Of Reporting Persons/I.R.S. Identification Nos. of Above Persons
(Entities Only)
Diageo Midwest B.V.
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2 Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions)
(b) [ ]
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3 SEC Use Only
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4 SOURCE OF FUNDS (See Instructions)
N/A
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5 Check if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e) [ ]
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6 Citizenship or Place of Organization
The Netherlands
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7 Sole Voting Power
NUMBER OF 0
SHARES -----------------------------------------------------
BENEFICIALLY 8 Shared Voting Power
OWNED BY 79,000,000
EACH -----------------------------------------------------
REPORTING 9 Sole Dispositive Power
PERSON 0
WITH -----------------------------------------------------
10 Shared Dispositive Power
79,000,000
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11 Aggregate Amount Beneficially Owned by Each Reporting Person
79,000,000
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12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
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13 Percent of Class Represented by Amount in Row (11)
21.5%
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14 Type of Reporting Person (See Instructions)
HC, CO
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This Amendment No. 2 ("Amendment No. 2") amends and supplements the
Schedule 13D ("Schedule 13D") of Diageo plc, a public limited company
incorporated under the laws of England and Wales ("Diageo"), and Selviac
Nederland B.V., a company organized under the laws of the Netherlands and an
indirect wholly owned subsidiary of Diageo ("SNBV"), filed with the U.S.
Securities and Exchange Commission on November 13, 2001, as amended by Amendment
No. 1 to the Schedule 13D of Diageo, Diageo Holdings Netherlands B.V., a company
organized under the laws of the Netherlands and an indirect wholly owned
subsidiary of Diageo ("Diageo Holdings Netherlands") and Diageo Midwest B.V., a
company organized under the laws of the Netherlands and an indirect wholly owned
subsidiary of Diageo ("DMWBV"), with respect to the common stock of General
Mills, Inc., a Delaware corporation ("General Mills"), beneficially owned by
Diageo (the "Shares").
Item 4. Purpose of the Transaction.
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Item 4 of the Schedule 13D is hereby amended and supplemented by
adding the following paragraphs at the end thereof.
The Call Option Agreement dated October 28, 2002. On October 28, 2002,
DMWBV and General Mills entered into a Call Option Agreement (the "October 28th
Call Option Agreement") in which DMWBV granted to General Mills call options
over 2,909,232 of General Mills' ordinary shares (the "October 28th Option
Shares") that are held by DMWBV.
Under the October 28th Call Option Agreement, from a date no earlier
than May 1, 2003 through September 28, 2005, General Mills may exercise the call
options subject to certain conditions. If General Mills exercises any call
options under the Call Option Agreement or the October 28th Call Option
Agreement during the period from September 29, 2005 to October 28, 2005, General
Mills will be obligated to exercise the call options in respect of all Option
Shares and October 28th Option Shares not previously purchased.
The premium for the call options was $3.07 per October 28th Option
Share or an aggregate of $8,931,342.24. General Mills has agreed to pay $51.56
per share upon exercise of the call options. The call options expire on October
28, 2005.
The descriptions of the October 28th Call Option Agreement in this
item and throughout this Amendment No. 2 are qualified by reference to such
October 28th Call Option Agreement, a copy of which is attached hereto as
Exhibit (h).
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Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer.
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Item 6 of the Schedule 13D is hereby amended and supplemented by
adding the following at the end thereof.
As more fully described in Item 4 above, DMWBV and General Mills are
parties to an October 28th Call Option Agreement. A copy of the Call Option
Agreement is attached hereto as Exhibit (h).
Item 7. Material to be filed as Exhibits.
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Item 7 of the Schedule 13D is hereby amended and supplemented by
adding the following at the end thereof.
Description Exhibit
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Call Option Agreement, dated as of October 28, 2002, (h)
by and between Diageo Midwest B.V., a company
organized under the laws of the Netherlands, and
General Mills, Inc., a Delaware corporation.
After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct.
Dated: October 31, 2002
DIAGEO plc
By: /s/ Roger H. Myddelton
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Name: Roger H. Myddelton
Title: Company Secretary
DIAGEO HOLDINGS NETHERLANDS B.V.
By: /s/ M.C.T.M. Gerichhausen
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Name: M.C.T.M. Gerichhausen
Title: Director
By: /s/ T.H. Creighton
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Name: T.H. Creighton
Title: Director
DIAGEO MIDWEST B.V.
By: /s/ M.C.T.M. Gerichhausen
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Name: M.C.T.M. Gerichhausen
Title: Director
By: /s/ T.H. Creighton
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Name: T.H. Creighton
Title: Director
EXHIBIT INDEX
(h) Call Option Agreement, dated as of October 28, 2002, by and between
Diageo Midwest B.V., a company organized under the laws of the
Netherlands and General Mills, Inc., a Delaware corporation.