Incoming Aryzta board set to oppose takeover next month
US firm Elliot Advisers is likely to drop offer in face of opposition from new members
The prospect of a takeover of the Irish-Swiss food giant Aryzta is receding, with a revamped board of the company likely to oppose the bid for it by Elliot Advisers, the US investment firm.
Sources have said that upcoming changes to the Cuisine de France brand’s board at its annual general meeting in mid-December will result in Elliot’s 80 Swiss franc cent a share (74 euro cents) proposal being rejected.
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