Despite financial woes, shares in A2 Milk company rose by 6.6 per cent on the New Zealand stock exchange Tuesday amid rumours that Saputo is planning a takeover.
An Australian newspaper also said that Saputo might instead by chasing after Jaina Dairy Foods.
A2 Milk’s shares have lost almost half their value over the past year after exports to China plunged because the COVID-19 pandemic stopped international shipments.
“The share price of a2 has taken a bit of a jump today on takeover speculation and I guess time will tell as to whether that’s true,” said Hamilton Hindin Greene investment adviser Grant Davies. “It definitely falls into the speculative side of rumours”.
