A2 Milk rejects takeover offer

  • 20/07/2015
A2 Milk rejects takeover offer

New Zealand's A2 Milk Company has rejected a takeover offer from Australia's Freedom Foods and US dairy giant Dean Foods, but has left the door open to further talks.

A2 said, in a statement today, that its board of directors did not consider the takeover proposal "compelling" but said it was willing to discuss the offer with Freedom and Dean Foods.

It also said it had received other expressions of interest in the company, which were being evaluated.

Meanwhile, A2 also said it expected to triple its earnings before interest, tax, depreciation and amortisation to $NZ12 million during the 2015/16 financial year.

NZN