Elliott weighs bid for struggling Swiss baker Aryzta - Bloomberg News
28/08/2020 20:55
Aug 28 (Reuters) - U.S. hedge fund Elliott Management Corp
is exploring a bid for Switzerland-based baking company Aryzta
AG ARYN.S , Bloomberg News reported on Friday, citing people
familiar with the matter.
Elliott has been studying a potential offer for Aryzta,
according to the report. (https://bloom.bg/3hCb8zG)
The deliberations are at an early stage, and there is no
certainty Elliott will proceed with a formal offer, Bloomberg
News said.
Bloomberg last month reported the baked goods company was
attracting interest from potential private equity bidders
including Apollo Global Management Inc APO.N and Cerberus
Capital Management, as well as Canadian grocery and baking giant
George Weston Ltd WN.TO .
Aryzta, which makes McDonald's hamburger buns and Otis
Spunkmeyer cookies, appointed Rothschild & Co in May to review
its strategic and financial options. urn:newsml:reuters.com:*:nFWN2CV0M5
Elliott declined to comment, while Aryzta did not
immediately respond to a Reuters request for comment.
(Reporting by Juby Babu in Bengaluru; Additional reporting by
Rama Venkat; Editing by Shounak Dasgupta)
((Juby.Babu@thomsonreuters.com; outside U.S. +91 80 6182 3397))