Company watch: Glanbia moves to quell investors’ unease
In an effort to stop a share price decline, Glanbia Co-op announced it will not sell shares in Glanbia plc to help fund its takeover of the group’s dairy arm
Financial markets can work in the most counter-intuitive ways. In early November, Glanbia plc announced a healthy set of third-quarter results, posting double-digit sales growth across its business, and said its full-year profit growth would likely be 20 per cent or higher.
More significantly, the performance nutrition giant also announced to investors it would sell the remaining 40 per cent stake it held in its legacy dairy business for a total of €307 million. On the...
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