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Mengniu clarifies that China Modern Dairy acquisition talks not in progress

17-Jan-2013

Chinese dairy Mengniu has further extinguished rumours that it is in talks to acquire milk supplier China Modern Dairy in a clarifying statement filed with the Stock Exchange of Hong Kong.

The statement comes just days after news agency Bloomberg reported that deliberations regarding the acquisition of China Modern Dairy by Mengniu had begun.

In its statement, Mengniu meets the rumours head-on.

“The board of China Mengniu Dairy Company Limited notes that there have been recent rumours regarding the Company’s proposed acquisition of a Hong Kong-listed company engaged in dairy farm business. The Company would like to clarify that there has not been any negotiation between the Board and the alleged target company,” said the statement.

DairyReporter.com approached Mengniu earlier this week regarding the reports. It denied that any talks had been initiated. China Modern Dairy filed a similar statement with the Stock Exchange of Hong Kong also denying the rumours.

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