Australian functional foods group Freedom Nutritional Products has entered into merger talks with milk processor A2 Corporation, the groups said today (9 April).

In a statement to the Australian stock exchange, the companies said that they had entered into talks for a “merger of equals” that would see the combined entity remain listed on the ASX.

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Mountain Road Investments, the largest shareholder in A2C, has granted FNP a right of first refusal for up to 15% of the shares issued in A2C, the companies said.

The groups today signed an exclusivity deed that will see them enter into a three week period of exclusive discussions, during which time they will undertake due diligence and negotiate the terms of the merger proposal.

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