Synlait disputes a2 Milk's right to cancel exclusivity as share price slumps

Synlait says no impact expected to FY24 result. (Image: Synlait)

Mon, 18 Sep 2023

Synlait Milk shares fell 6.25% in the wake of news that a2 Milk plans to cancel its exclusive supply agreement with the milk processor. The shares traded at a record low of $1.20 after a trading halt was lifted on Monday afternoon. Synlait said it disputes that a2 Milk has the right to cancel the exclusivity arrangements.Synlait shares had been on a trading halt since this morning when a2 Milk said it had given notice it would cancel the “exclusive manufacturing and supply rights enjoyed by Synlait” for stages 1 to 3 of a...

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