Groupe Danone chairman Franck Riboud has said the company’s best defence against a possible hostile bid is keeping shareholders happy with solid financial results.
According to Dow Jones he said at the company’s AGM in Paris that there were no plans to forge a defensive shareholder pact. “There are no new strategies to unveil,” Riboud purportedly said. “You are our core shareholders.” He added that the company is less concerned about a hostile takeover as its financial position has improved.