Bellamy’s Australia (ASX:BAL) has entered into a Scheme Implementation Deed under which it is proposed that China Mengniu Dairy Company will acquire 100 per cent of the issued share capital of Bellamy’s via a scheme of arrangement.
If the Scheme proceeds, it is intended that Bellamy’s shareholders will receive a total of $13.25 cash per share.
The takeover offers a significant 59 per cent premium to the last closing price for Bellamy's shares.
The board of Bellamy's has unanimously recommended that shareholders vote in favour of the offer.
Shares in Bellamy’s (ASX:BAL) are trading 53.97 per cent higher to $12.81.