Bellamy’s Australia enters into $1.5b takeover scheme with China Mengniu Dairy Company

Company News

by Anna Napoli

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.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.