Dean Foods Rises After Report of Saputo Interest

Date : 04/15/2019 @ 3:36PM
Source : Dow Jones News
Stock : Saputo Inc. (SAP)
Quote : 45.75  0.38 (0.84%) @ 9:11PM
Saputo Inc. share price Chart

Dean Foods Rises After Report of Saputo Interest

Dean (NYSE:DF)
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   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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