Clover is in takeover talks

Shares in Clover Industries raced to their highest in almost two months yesterday after it said it is in talks with an unnamed firm that intends to acquire all its shares.

Clover, which has a R2.73 billion market capitalisation, didn’t provide further details on the potential takeover, which comes as it recovers from a drought and depressed milk prices.

Clover’s shares jumped as much as 15% to R16.40 yesterday. – Reuters