Lactalis bids for Parmalat




Lactalis, a French dairy company that is wholly owned by the Besnier family, has made a bid to buy the portion of Italian dairy Parmalat that it doesn’t already own,


Bloomberg Businessweek

reported.

Lactalis is currently Parmalat’s biggest shareholder, with a 29% stake.

The offer is valued at 3.38 billion euros, or $4.9 billion.

Lactalis said it would keep the company listed in Milan, according to a

Financial Times

report. The

FT

cited a Lactalis statement that said:

“Lactalis will evaluate the possibility of merging into Parmalat its European milk activities, including those in France and Spain.”

The offer was made just hours before a meeting between Italian Prime Minister Silvio Berlusconi and French President Nicolas Sarkozy. (Sources:

Bloomberg Businessweek,

April 26, 2011;

Financial Times,

April 27, 2011.)

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