Canadian Dairy Giant Saputo Eyes Possible Takeover of A2 Milk

Canadian Dairy Giant Saputo Eyes Possible Takeover of A2 Milk

Rumours that the embattled specialty dairy company A2 Milk is being eyed as a possible takeover target is being credited with driving its shareprice more than 7 percent higher.

The Australian newspaper has linked A2 Milk to the Canadian dairy giant Saputo, which is reported to be close to making a big acquisition.

A2 has been touted as a possible takeover target over the past year as it struggled to restore its earnings, profits and share price in the face of disrupted sales channels, excess stock and a slide in sales of infant formula in the key Chinese market.

A2 declined comment on the speculation.

 

Source: RNZ

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