Baby formula brand The a2 Milk Company may be facing a “please explain” letter from the ASX after its shares rocketed more than 13 per cent on Monday following takeover speculation.
The dual-listed group, which makes a2 Platinum formula and fresh milk, said on Monday it “does not comment on media speculation or rumours” after reports Swiss giant Nestlé is mulling a takeover of a2 Milk, which sent the Kiwi company’s shares up 79¢ to $6.75 each on the ASX. They ended the day at $6.68.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
