Parmalat tasks Goldman Sachs to evaluate Lactalis offer

3rd May 2011, Comments 0 comments

Italian dairy group Parmalat said on Tuesday it had charged US investment bank Goldman Sachs to evaluate the public offer for the company by French rival Lactalis before advising shareholders.

The company's board met Tuesday and said it had also engaged several law firms to evaluate the unsolicited offer which would result in the creation of the world's top dairy group.

Last week, Lactalis, which already held nearly 29 percent in Parmalat, made a public offer to buy the remaining stake for 3.4 billion euros (5.0 billion dollars).

The takeover has stirred nationalist emotions in Italy and fears that Lactalis could acquire a monopoly position on the Italian market.

© 2011 AFP

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