Source: Australian Food News

Italian companies are reportedly not preparing a counter-bid for Parmalat, the country’s largest dairy processor and owner of Australian milk brand Paul’s, which is subject to a EUR3.4bn takeover offer from France’s Lactalis.

Reuters yesterday cited sources within the Italian government as saying no rival bid is being lined up for Parmalat, a business some ministers have labelled as “strategic” to the country’s economy.

To read the full story, follow this link:www.ausfoodnews.com.au/2011/04/28/lactalis-takeover-of-parmalat-hopes-of-domestic-bid-failing.html