The Courier-Mail

A2 Milk takeover ‘mooves’ stalled

-

A2 MILK yesterday hosed down takeover speculatio­n about the dual-listed dairy foods group.

The company, which is listed on the Australian and New Zealand sharemarke­ts, yesterday said “no takeover offer is imminent” after US-based Dean Foods and Australia’s Freedom Foods stopped talking about their proposal.

Dean Foods and Freedom Foods, which is a major supplier to and shareholde­r in A2, put forward an expression of interest to buy the company in June for an undisclose­d amount.

They were knocked back by A2’s board, which said the deal was not compelling enough and talks had since stalled.

Last month, A2 said it had not received anything more on the bid.

ASX-listed Freedom Foods said it had “ceased detailed discussion in relation to A2” with Dean Foods and was reviewing its 18 per cent holding, “including evaluating the benefits of maintainin­g a strategic stake”.

A2’s Australian­listed shares closed down 1¢ at 62.5¢ yesterday, while Freedom Food’s shares rose 3¢ to $3.

“Although there has been no formal withdrawal, the board continues to consider that no takeover offer is imminent,” A2 said.

 ??  ??

Newspapers in English

Newspapers from Australia