Danone formalises bid on Numico
20 August 2007, AMSTERDAM (dpa) - French food company Danone formalised its bid on Dutch health food company Numico on Monday.
20 August 2007
AMSTERDAM (dpa) - French food company Danone formalised its bid on Dutch health food company Numico on Monday.
The French company confirmed its informal bid, saying it will pay EUR 55 for each Numico share, a total of EUR 12.3 billion.
The takeover expands the French food company's share in the global healthy food market dramatically.
On the Amsterdam stock exchange Monday morning, Numico shares gained by 0.92 percent and stood at EUR 53.74 by 10.36 am.
In Paris, Danone stood at EUR 53.90 by 10.37 am, a gain of 0.44 percent.
Numico's board of directors and the board of commissioners confirmed on 9 July the company's support for Danone's takeover offer.
Numico's central workers' union also recommends the takeover.
Danone said the takeover will only go through if two-thirds of Numico shares are registered for the transaction. Numico shareholders have until 31 October to register their shares.
Danone owns a third of Numico shares. Two days after the French company announced its informal bid, Dutch financial markets watchdog AFM said Danone's stake in Numico had surged from less than 5 percent to 26.4 percent.
Numico's participation at the Amsterdam stock exchange will end as soon as the takeover, due to be formalised early November, has been realised.
The publication of Numico's third quarter results planned for 8 November is not expected to ahead.
[Copyright dpa 2007]
Subject: Dutch news