Lactalis Looks To Pick Up Parmalat For €3.4B

Law360, New York (April 26, 2011, 2:31 PM EDT) -- French dairy company Groupe Lactalis SA said Tuesday that it plans to offer €3.38 billion ($4.92 billion) for all the shares of Italian rival Parmalat SpA that it doesn't already own, a move that could create the world's largest dairy company.

Parmalat's stock price shot up more than 10 percent when news of the takeover bid broke. Privately owned Lactalis, which produces a variety of products, including President Camembert cheese, will reportedly offer €2.60 per share for the remaining 71 percent stake, a 21 percent premium...
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