Rumours that the embattled specialty dairy company A2 Milk is being eyed as a possible takeover target is being credited with driving its share price more than 7 percent higher.
The Australian newspaper has linked A2 Milk to the Canadian dairy giant Saputo, which is reported to be close to making a big acquisition.
A2 has been touted as a possible takeover target over the past year as it struggled to restore its earnings, profits and share price in the face of disrupted sales channels, excess stock and a slide in sales of infant formula in the key Chinese market.
