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Parmalat: Lactalis offer inadequate

Parmalat: Lactalis offer inadequate

Parmalat says the price per share offered by French group Lactalis to take full control of the Italian dairy company is inadequate.
Parmalat's board of directors met Tuesday. In a statement, the company said the board was unanimous in its opinion, which also considered an analysis by advisor Goldman Sachs International.
Lactalis already owns 29 percent of Parmalat. It is offering (EURO)2.57 ($3.64) per share for the stake it doesn't already own.
Parmalat did not say in its statement what it would consider a fair price. The buyout process is scheduled to start on May 23.
Parmalat's shares closed down 0.15 percent at (EURO)2.61 on the Milan Stock Exchange.


Updated : 2021-06-14 17:36 GMT+08:00