a2 Milk gives up most of M&A chatter-driven gains from prior day

A2 Milk

17/08/2021 05:54

(Updates)
    ** New Zealand dairy producer a2 Milk  ATM.NZ  slides 5.1%,
giving up most of Monday's M&A speculation-driven gains
    ** A report on Monday suggested there were suitors circling
a2 Milk, including potentially Nestle  NESN.S   urn:newsml:reuters.com:*:nL4N2PN1E1
    ** Nestle and a2 declined to comment on rumours 
    ** Report added suitor will only move after a2 reports its
annual results on Aug. 26
    ** a2's NZ shares hit a session low of NZ$6.69, while
Australia shares  A2M.AX  fell A$6.38
    ** a2 has lost around half its value since December
following multiple sales forecast downgrades as pandemic travel
restriction hit its informal sales channel to China

 (Reporting by Shashwat Awasthi and Nikhil Kurian Nainan)
 ((Shashwat.Awasthi@tr.com
mailto:Shashwat.Awasthi@thomsonreuters.com))