Lactalis has raised the price it is offering to buy out minority investors in Italian dairy giant Parmalat.

The France-based dairy group, which owns just under 88% of Parmalat, yesterday (9 March) upped its offer from EUR2.80 (US$2.99) a share to EUR3. Lactalis said the offer would expire on 21 March.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Activist investor Amber Capital, which has a 3% stake in Parmalat, reportedly said last week Lactalis should increase its offer to at least EUR3.50.

Daniele Ridolfi, an analyst at French finance house Kepler Cheuvreux, said investors should accept Lactalis’s new bid.

“The offer price is now in line with our target price we thus suggest to accept the offer,” Ridolfi said.

Lactalis acquired control of the company in 2011 after what had been seen in some quarters as a controversial pursuit of the business.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Earlier this month, Parmalat acquired “several” cheese-making companies in Chile at a combined enterprise value of around EUR100m.

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now