Start Date 1966-00-00
End Date 1969-00-00
Percent Stake 53%
Notes The Mulbergers were paid $36 million but Grace soon discovered that its purchase was significantly undervalued. Because of its cash reserves and growing importance within the industry, Miller was a prime acquisition target; in 1969 management at Grace decided to sell its interest in Miller to PepsiCo for $120 million. Yet suddenly, and without warning, Grace canceled the agreement and almost immediately sold its shares to Philip Morris for $130 million.
Updated about 8 years ago

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