UK dairy firm Arla Foods has confirmed that talks have reached an advanced stage over a buyout by its main shareholder, Arla Foods Ambia, which could lead to a recommended cash offer.
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The Swedish-Danish cooperative, Arla Foods Ambia, which already holds 51% of Arla UK’s outstanding shares, has offered 71 pence a share for the UK dairy company. The bid values Arla UK at GBP430m (US$844.8m).
“There can, however, be no certainty that an offer will be made nor as to the terms on which any offer might be made,” the company warned.
