Thursday, 02 May 2024 13:00

Takeover bid?

Written by  Milking It

OPINION: Canterbury milk processor Synlait is showing no sign of bouncing back from its financial doldrums.

The listed company’s share price has dropped to 50c/share, valuing the company at only around $100 million. The share price has been travelling south despite the company working hard to sell off under-utilised assets and reduce debt.

Milking It reckons all this means a takeover bid could be around the corner. Watch out for Bright Dairy of China; it already owns 39% of Synlait and could easily fork out a couple hundred million to buy the company outright.

The Chinese know how to run successful dairy companies in NZ; just look at Westland Milk, which reported a record revenue of over $1b last financial year.

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