FRANCE: Danone dismisses takeover speculation

By | 11 September 2003

The French food and drinks group, Danone, has dismissed speculation that it has become an imminent takeover target after its share price surged on Thursday. Danone's shares rose by 5% to a 2003 high of €135.

Both Coca-Cola and PepsiCo were suggested as possible bidders for the company which owns Evian water among other soft drinks brands.

However, a Danone spokesman was scathing about the rumours. "This is a classic, old, recurrent rumour and we do not understand why, since it is such a repeated rumour, it should set off such a reaction," the spokesman said.

Sectors: Soft drinks, Water

Companies: Danone, Evian

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