“The price proposed by Lactalis neither reflects the intrinsic nor strategic value of Yoplait, nor its growth potential,” said a Sodiaal and PAI joint statement. Sodiaal and PAI each have a 50% stake in Yoplait.
The sale process, which officially started a few days ago, could also draw interest from companies such as Nestlé and General Mills.
Lactalis spokesman Luc Morelon said the company would continue to pursue the purchase.
Source: Reuters, Bloomberg
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