The binding offer with PAI Partner and Sodiaal, the owners of Yoplait S.A.S., would beat out rivals bidding for the company.
General Mills' offer includes a 50 percent interest and a controlling role in the company, the food company said Friday. It says that discussions are in progress.
Under the proposed transaction, General Mills will team up with Sodiaal in expanding the Yoplait brand and businesses in France, Europe and around the world.
General Mills, based in Minneapolis, has licensed the Yoplait brand since 1977, and is Yoplait's largest licensee.
