Dean Foods Rises After Report of Saputo Interest
April 15 2019 - 10:36AM
Dow Jones News
By Bowdeya Tweh
Shares of Dean Foods Inc. (DF) are up about 5% to $2.25 in
Monday trading as investors digested a report last week from the
Globe and Mail that said Canadian dairy firm Saputo Inc. was "going
through the books" of the company.
Dallas-based Dean in February suspended its dividend and said it
would complete a strategic review of its business, which could
result in a sale of the company.
Montreal-based Saputo named a new chief acquisition and
strategic development officer in recent weeks and the Globe and
Mail reported Saputo has realigned its management to "deepen its
bench of its U.S. operations."
Saputo has been acquiring companies as part of its growth
strategy including U.K. cheese and spread-maker Dairy Crest Group
PLC and Australian firm Murray Goulburn Co-Operative Co. among
others.
Saputo shares trading in Toronto were little changed at
C$45.85.
Write to Bowdeya Tweh at bowdeya.tweh@wsj.com
(END) Dow Jones Newswires
April 15, 2019 10:21 ET (14:21 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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