In late January, Street Talk reported that Blackmores had been in discussions with an unnamed strategic player who was keen to acquire the vitamins group and take it off the ASX.
That suitor, it can now be revealed, was Asahi, the Japanese brewer who also runs a serious health foods division. The discussions did not proceed partly because, as was reported at the time, there were fears about relations with China and the health of its market, which represented some 30 per cent of the company’s earnings last financial year (less corporate costs).
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
