Tuesday, November 13, 2018
 Yoplait Owners Reject Lactalis Bid  

The owners of French yogurt maker Yoplait rejected a 1.4 billion-euro ($1.96 billion) unsolicited bid from Europe's largest dairy group, Lactalis, saying it was too low and would force out a major shareholder.

Unlisted Yoplait, which competes with food giant Danone (DANO.PA), has been in the spotlight since the summer when private equity fund PAI Partners said it wanted to sell its 50 percent stake.

The other half of Yoplait is owned by Sodiaal, a dairy co-operative, which wants to keep its participation. Lactalis' offer, made on Nov. 16, was for all of Yoplait.  "The price proposed by Lactalis neither reflects the intrinsic nor strategic value of Yoplait, nor its growth potential," Sodiaal and PAI said in a joint press release.

The sale process, which officially started a few days ago, could also draw interest from food giants such as Nestle and General Mills, which distributes the Yoplait brand in the United States, Asian food groups and private equity groups.

Source: Reuters


Posted on Wednesday, November 24, 2010 (Archive on Wednesday, December 01, 2010)
Posted by bsutton@adpi.org  Contributed by bsutton@adpi.org