Nikko Asset Mgmt dreads an A2 Milk takeover offer

Tue, 26 Mar 2019

By Jenny Ruth March 27 (BusinessDesk) - Nikko Asset Management New Zealand’s head of equities Stuart Williams says he dreads waking up to the news that some global giant has launched a takeover offer for A2 Milk. That’s because the fund manager’s stake in A2, currently just 0.8 percent or 6.2 million shares, added 90 basis points to his team’s performance in 2018 and 35 basis points year to date. The company was overweight in A2 by 3-4 percent through most of 2018. Williams’ statement that “A2 is very important to us” was clearly an...

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