French dairy company Danone is facing threat of falling into the hands of US food and drink giant PepsiCo.
Shares in Danone jumped 10% yesterday on rumours of a possible bid for the company, which is valued at about Euro23bn.
Despite PepsiCo denying that it has built up a stake in Danone, French government ministers have expressed their concerns.
And French business newspaper Les Echoes reported that Franck Riboud, company president and son of founder Antoine Riboud, recently told a corporate meeting that Pepsi was interested in the “culture” of the bacterial kind. Danone’s products such as Actimel and bottled water are desirable in a health-focused market.
Shares in Danone jumped 10% yesterday on rumours of a possible bid for the company, which is valued at about Euro23bn.
Despite PepsiCo denying that it has built up a stake in Danone, French government ministers have expressed their concerns.
And French business newspaper Les Echoes reported that Franck Riboud, company president and son of founder Antoine Riboud, recently told a corporate meeting that Pepsi was interested in the “culture” of the bacterial kind. Danone’s products such as Actimel and bottled water are desirable in a health-focused market.
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