Danone bids $16.8b for Dutch baby food maker
Ap, Paris
Groupe Danone SA, the maker of Dannon yogurt and Evian waters, is strengthening its baby food business with a bid Monday to buy Royal Numico NV for $16.8 billion.The addition of Numico would make Danone one of the world's largest players in the fast-growing $24 billion baby food industry, which experts expect to grow 25 percent by 2010. "With this project, we are designing a new Groupe Danone, enhancing dramatically its growth profile and its growth potential for years to come," Danone CEO Franck Riboud said in a statement. Groupe Danone, is offering 55 euros ($75) per share, which is a 44 percent premium over the average share price over the last three months, according to a joint statement by the two companies.
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