General Mills is plotting a £1bn move for French yoghurt maker Yoplait.

The US owner of Haagen-Dazs ice cream and the Green Giant canned vegetables brand is considering a takeover attempt following a contract dispute, according to the Sunday Times.

The move comes after Yoplait reportedly attempted to end a long-term distribution deal between the two companies.

PAI Partners co-owns Yoplait with French dairy co-operative Sodiaal but the private equity group is looking to offload its 50% stake.

General Mills could face competition from Swiss manufacturing giant Nestlé, which has also been linked with a possible bid.

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