A2, Synlait shares climb as takeover bid revives optimism about Chinese appetite for milk

Mon, 16 Sep 2019

By Paul McBeth Sept. 16 (BusinessDesk) - A2 Milk and Synlait Milk shares jumped in early trading as a A$1.5 billion takeover bid for Bellamy's Australia revived optimism that Chinese demand for dairy products remains strong. ASX-listed Bellamy's today said it's received a A$13.25 per share offer from China Mengniu Dairy Co and that its board will support the bid. That's a premium to the A$8.32 price the shares closed at on Friday. China Mengniu is familiar with the Australasian market through Yashili New Zealand and Burra Foods Australia...

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