PYX Resources: Achieving volume and diversification milestones. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksDairy Crest Share News (DCG)

  • There is currently no data for DCG

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Dairy Crest recommends offer from Canada's Saputo

Fri, 22nd Feb 2019 07:39

(Sharecast News) - Dairy Crest directors have recommended a cash takeover bid from Canada's Saputo that values the Cathedral City cheese maker at £975m.Saputo Dairy UK, an arm of the Montreal-based group, has offered 620p per share, only around 12% higher than the previous day's closing price.Dairy Crest's shares, which had fallen over 30% in the last two years, shot up 13% to 625p on Friday, suggesting investors anticipate Saputo's bid being challenged.The board of directors of the FTSE 250 cheese and butter maker felt the terms of the acquisition are "fair and reasonable" and said they unanimously intend to recommend shareholders vote in favour of the deal. Chairman Stephen Alexander said the offer price "represents compelling value for Dairy Crest shareholders".He added: "The price premium Saputo is offering reflects Dairy Crest's portfolio of market-leading brands, its manufacturing and innovation capabilities as well as its experienced management team, who will continue to run the business under Saputo's ownership. It is for these reasons that the board is unanimously recommending this transaction to Dairy Crest shareholders."Lino A Saputo, Jr, chairman and CEO of Saputo Inc, said: "Dairy Crest is an attractive platform for Saputo and fits well within our growth strategy. We believe that under Saputo ownership, Dairy Crest will be able to accelerate its long-term growth and business development potential and provide benefits to Dairy Crest's employees and stakeholders."
More News
11 Feb 2016 08:07

Dairy Crest sales bounce back but disposal proceeds disappoint

(ShareCast News) - In its first quarterly results since offloading its dairy business on Boxing Day, Dairy Crest said its cheese and spreads brands were riding out the stormy markets and remained in line to hit full year targets. Final net proceeds from the disposal are now expected to be around £30

Read more
4 Feb 2016 16:30

Earnings, Trading Statements Calendar - Week Ahead

Read more
29 Jan 2016 16:47

Friday broker round-up

(ShareCast News) - Experian: Exane BNP Paribas upgrades to outperform with a 1350p target. Mitchells & Butlers: JP Morgan downgrades to neutral with 370p target, down from 420p Dcc: Exane BNP Paribas promotes to outperform with 6200p target. Lonmin: HSBC upgrades to buy, target 76p; Deutsche reite

Read more
21 Jan 2016 16:09

Dividends Calendar - Week Ahead

Read more
31 Dec 2015 11:56

Dividends Calendar - Week Ahead

Read more
29 Dec 2015 07:25

Dairy Crest Completes Sale Of Dairies Operations To Muller

Read more
29 Dec 2015 07:02

London pre-open: Stocks seen a little higher amid holiday-thinned volumes

(ShareCast News) - London stocks are expected to open 14 points higher at 6269, with little due in the way of market-moving news and many traders still away from their desks for the Christmas holiday. There are no major UK data releases scheduled for release, but in US, the goods trade balance is

Read more
21 Dec 2015 08:09

Dairy Crest Takes Full Ownership Of Promovita Ingredients Venture

Read more
21 Dec 2015 08:00

Dairy Crest takes full ownership of Promovita joint venture

(ShareCast News) - Dairy Crest took full ownership of its galacto-oligosaccharide business on Monday. The FTSE 250 dairy company confirmed it had taken the remaining 50% share in Promovita Ingredients, which was held by Fayrefield Foods, for a cash consideration of £6m. Dairy Crest said it was fund

Read more
26 Nov 2015 09:45

BROKER RATINGS SUMMARY: OneSavings Upped To Buy, Aldermore Cut To Hold

Read more
19 Nov 2015 09:36

BROKER RATINGS SUMMARY: Merrill Lynch Downgrades Challenger Banks

Read more
10 Nov 2015 08:31

Jefferies downgrades Dairy Crest on valuation

(ShareCast News) - Jefferies downgraded Dairy Crest to 'hold' from 'buy' on valuation grounds, following confirmation of the Dairies unit sale and last week's first half results. "DCG is on course to be a more profitable, faster growing, cash-generative business. Against which, the shares are up 45%

Read more
5 Nov 2015 10:06

Dairy Crest profit drops on lower cheese sales

(ShareCast News) - Dairy Crest Group has posted a first half drop in profit as it struggles with lower selling prices across the business and reduced product volumes. The FTSE 250 company released its interim results for the six months to 30 September on Thursday. Revenue dipped by 5% on the previo

Read more
5 Nov 2015 08:57

Dairy Crest Profit Down As Sale Of Dairy Operations Clears Future Path

Read more
29 Oct 2015 16:23

Earnings, Trading Statements Calendar - Week Ahead

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.