Protectionism and Parmalat: analysing the Groupe Lactalis takeover bid
- August 31, 11
On July 8 2011 French dairy company Groupe Lactalis confirmed the acquisition of 83.3% of Parmalat SpA’s stock capital on the conclusion of a !3.4 billion takeover bid. The transaction makes Groupe Lactalis the world leader in dairy products.
Following Groupama’s attempted takeover of Premafin, EDF’s interest in Italian Edison and the takeover of Bulgari by LVMH, the acquisition is the latest in a number of cross-border deals and attempted deals involving Italian and French businesses. Groupe Lactalis’s interest in Parmalat sparked a protectionist backlash, but the Italian government failed in its attempts to block the takeover. [...]