World’s largest olive oil company surges over 20% as rivals circle in takeover battle
Shares of Spain's Deoleo jumped on Wednesday morning amid an intensifying takeover battle for the world's largest olive oil bottler and marketer.
TL;DR
- Deoleo shares surged over 20% amid an intensifying takeover battle.
- Spanish cooperative Dcoop has reportedly offered 470 million euros for Deoleo.
- The takeover race includes firms from Italy, France, and Australia.
- The sale is reportedly in its final phase, with an expected closing in September.
- If successful, the sale could consolidate Spain's leadership in the olive oil sector.
- Deoleo is the maker of brands like Bertolli and Carbonell.
- Despite past volatility, Deoleo reports more stable market conditions.