Infant formula and baby food maker Bubs Australia looks set to announce M&A news, according to a stock-exchange filing from the company.
Bubs Australia today (29 March) requested a halt in the trading of its shares on the Australian Securities Exchange “pending an announcement … in relation to a proposed acquisition and an associated proposed capital raising”.
The company has asked for the pause in share trading to last until the start of normal trading on Tuesday or when the firm makes a further announcement and asks for the halt to be lifted, whichever comes first.
Bubs Australia has already announced a number of corporate moves in 2019. Earlier this month, the business set out a distribution deal in China with local infant-formula group Beingmate.
A week earlier, Bubs Australia said it was leaving a dairy joint venture with Uphamgo Australia, a partnership formed through its 2017 acquisition of goat’s milk business NuLac Foods.