Dairy Farmers has shrugged off speculation linking dairy giant Fonterra to a possible acquisition of the Australian dairy company.
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Dairy Farmers is looking to list on the Australian Stock Exchange next year but analysts in the country have forecast that a bid for the company, possibly from Fonterra, could appear before then.
However, the company, which has flagged a listing worth A$800m-1bn (US$710-887m) next June, said it is focused on its plans to go public.
“Dairy Farmers remains squarely focussed on its own agenda,” a spokesman for the company told just-food today (2 October). “That is, to complete our evolution from co-operative to a true fast moving consumer goods business ahead of a potential public listing before June 2008.”
Nevertheless, the spokesman did not rule out that Dairy Farmers would consider a takeover offer should one materialise. “As any board would, Dairy Farmers will evaluate all options that lie ahead of us at that point in time to determine which stands to provide maximum value for shareholders.”
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By GlobalDataReports in Australia and New Zealand have cited Goodman Fielder and Parmalat as other potential bidders for Dairy Farmers.
The company, which operates from ten sites in Australia, sells brands including Ski yogurts and Coon cheese.
