Smucker to Buy P&G's Folgers Coffee for $3 Billion

By Heather Burke and Carol Wolf

June 4 (Bloomberg) -- J.M. Smucker Co., the maker of Smucker's jams and Jif peanut butter, will buy Procter & Gamble Co.'s Folgers unit for about $3 billion in stock to become the biggest U.S. producer of coffee.

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