The tone of comments by Grand Met officials and advisers suggested that the British company was still hoping to acquire Pillsbury on peaceful terms.

Since acquiring Pillsbury in December 1988 for $5.7 billion, Grand Met has received $1 billion from the sale of Pillsbury's assets.

In recent years General Mills acquired Pillsbury.

The initial announcement came from Diageo, the British conglomerate, which acquired Pillsbury more than a decade ago.

When it acquired Pillsbury, the British company presumably wrote up the assets of the restaurant group to their market value.

Grand Met acquired Pillsbury and its Burger King Corporation division in January 1989.

In 2000, General Mills acquired Pillsbury (incl.

Grand Metropolitan said it had completed a financing package for its $60-a-share offer to acquire Pillsbury.

In July 1988, Grand Metropolitan decided to acquire Minneapolis-based Pillsbury.

Twenty years later, Grand Metropolitan, a spirits company, acquired Pillsbury.