×

Danone Plans $74.25 Per Share Offer for Numico

Groupe Danone said its planned 55 euros ($74.25) per share offer for Dutch baby food maker Numico will begin tomorrow and run to Oct 31, and will require the tendering of shares representing 66.67% of Numico's capital to succeed.

The company said Numico won't publish third quarter results due to the timetable.

Danone currently holds 29.54% of Numico shares, acquired after it announced it was planning to make a public offer for the rest.

If the offer is successful, Danone plans a squeeze-out for any shares still outstanding.