French group Lactalis has raised the price of a buyout offer on shares in Italy’s Parmalat it does not already own to 3 euros per share after some investors complained that the previous offer was too low.
Lactalis’ investment vehicle Sofil, which had previously offered 2.8 euros for each Parmalat share, said on Thursday its revised offer would be extended until March 21.
Lactalis, which won control of Parmalat in 2011 amid failed efforts in Italy to mount a domestic counter bid, is seeking to buy the 12.26 percent of Parmalat it doesn’t already own with the aim of delisting the group.
By Silvia Aloisi
Recent reports reveal The Body Shop will shut up to half of its 198 stores in the UK and cut the size of its head office, incurring hundreds of job losses. According to the firm overseeing the restructuring of the beauty retailer, closures will begin this Tuesday.
Amidst brewing tensions, the US Federal Trade Commission (FTC) and a coalition of states are poised to take legal action as early as next week, aiming to prevent grocery giant Kroger’s $24.6 billion acquisition bid for Albertsons, Bloomberg reported.
The owner of Guinness and Baileys has hired financial service group Rothschild to explore the sale, which includes Pimm’s, fruit liqueur brand Safari and Pampero rum. Each brand could be offloaded individually or as a three, according to Sky News.