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SAN MIGUEL SUBMITS US$1.4 BLN BID FOR ASX-LISTED NATIONAL FOODS.

Publication: AsiaPulse News
Publication Date: 31-DEC-04
Format: Online
Delivery: Immediate Online Access

Article Excerpt
MELBOURNE, Dec 31 Asia Pulse - Philippines soft drink and beer giant San Miguel wants to move into the milk business after trumping the bid by New Zealand co-op Fonterra for listed Australian dairy group National Foods Ltd (ASX:NFD).

The $6.00 per share offer triggered speculation of a bidding war, rocketing National Foods' share price 31 cents to a record high of $6.25.

The A$1.78 billion (US$1.4 billion) cash...

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