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With no warning whatsoever, consumer products giant Procter & Gamble Co. changed the face of Dayton business when it announced in August it would buy Iams Co., a locally based premium pet food maker, for a stunning $2.3 billion. "We knew we had a very big story to cover in very little time," said Jim Dillon, business editor of the Daily News. "We scrambled and put together a package of stories that covered all the angles of the acquisition."
The bylines in the next-day coverage are those of Jim Bebbington, Jim Bohman, Timothy R. Gaffney, Angela Townsend and Tim Tressler. The photo credits are those of Mame Burns and Skip Peterson. Procter & Gamble owns brands including Tide and Bold detergents, Vicks cold medicine, Puffs tissues and Pantene shampoos. Iams products include Eukanuba and Iams dry and canned dog and cat foods. In the surging U.S. economy, billion-dollar mergers that are unveiled without warning challenge the papers covering them to account for how the often unlikely partners in mergers are brought together. In his Aug. 12 lead story in the Daily News, Jim Bohman pointed out that Iams has a new plant in the Netherlands. It is located 50 miles from the birthplace of Durk Jager, Procter & Gamble's president and chief executive. © Cox
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