Danone makes €12bn move for Numico

Danone, the French food multinational, has made a cash offer of €12.3bn ($16.8bn) for Royal Numico, the Dutch baby-food maker. Danone and Numico on Monday said they had struck a preliminary agreement for a €55-per-share cash offer – representing a 44 per cent premium over the average Numico closing price over the past three months. Numico shares rose more than 11 per cent to €44.50 on Monday before regulators halted trading.

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