Olam International has confirmed that it is considering a possible bid for Australian dairy group Dairy Farmers.
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Olam CFO Krishnan Ravikumar reportedly told a market briefing in Singapore: “While we have been approached on this transaction, at this point in time we have nothing to report. Our M&A team is having a look at it, but no formal bid has been made by us.”
Dairy Farmers put itself up for sale earlier this year, in a deal valued at around A$900m (US$856.66m).
The company has attracted firm interest from two syndicates – National Foods and Warrnambool Cheese and Butter Factory, plus Parmalat and Murray Goulburn – as well as New Zealand dairy giant Fonterra.
Canadian dairy group Saputo is also believed to be among the potential bidders conducting due diligence, a person familiar with the situation told Dow Jones Newswires.
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