Australia’s competition watchdog yesterday [Thursday] approved Arnotts Biscuits Holdings’ A$258m (US$144m) bid for at least 90% of Snack Foods.
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The move enables the US-owned Arnotts to proceed with its bid for Australia’s second-largest potato chips manufacturer by 25 July
Snack Foods currently controls about 25% of the salty snacks market in Australia and Arnotts revealed when it launched its takeover offer last month that it wanted to expand its own portfolio.
