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Shares in Danone rise on bid speculation report

Monday, August 14, 2017 - 00:53

Shares in French food group Danone rose on Monday after the New York Post newspaper said in a report over the weekend that Danone could be a takeover target. Ciara Lee reports.

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It could be Kraft Or it might be Coke Either way reports that Danone is a takeover target pushed its shares up 1.9 percent in early trade. The New York Post cited a stock market tipster saying "someone is going to buy Danone" and that the French government would allow it. A spokeswoman for Danone - the world's largest yoghurt maker - said the company had no comment to make on the report. Danone is oftened mentioned as a bid target, given the amount of consolidation within its sector. But France has traditionally sought to prevent its leading companies from being taken over by foreign rivals. In 2005 it supported Danone in the face of a rumored bid from Pepsi. And Danone has itself been on the takeover trail - buying U.S. organic food producer WhiteWave earlier this year.

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Shares in Danone rise on bid speculation report

Monday, August 14, 2017 - 00:53