The Norwegian foods group Synnove Finden could become a target for Valio, Q Meieriene or Arla Foods, the company’s founder and director Dag Swanstrom has indicated.
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“There have been significant changes recently, and the reaching of a political resolution regarding milk prices in Norway has meant that more shareowners in Synnove Finden are considering their commitment to the company and may be open to selling their shares,” Swanstrom said.
Swanstrom identified Valio, Q Meieriene or Arla as three possible bidders for Synnove Finden.
“I would not be surprised at all if Synnove Finden became the target of a takeover bid. I would be open to selling my 4.7% holding in Synnove Finden if a suitable offer was made,” Swanstrom commented.
A second Synnove Finden shareholder, Morten Engebretsen, also indicated that he might be open to selling his shares in the company.
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By GlobalData“No bids or contacts have happened just yet, but they are expected in the current year,” said Engebretsen.
Synnove Finden had revenues of EUR340m (US$457m) in 2006.
