Cuisine de France owner Aryzta is in advanced talks with private equity firm Elliott Advisors about a potential public tender offer for all the outstanding shares of Aryzta. “There is no certainty that those discussions will result in any offer being made,” the Irish-Swiss baked goods group said. Activist shareholders Veraison Capital and Cobas had pushed for a change in strategy at Aryzta. Last month, the activist shareholders rejected Aryzta's proposal for chairman, instead continuing to push their own candidates for a proposed board overhaul. Aryzta’s share price – battered over the past year – was up by over 1.2% ahead of the announcement confirming the potential takeover talks, which was released after European stock markets closed.

Source: Irish Examiner September 10, 2020 19:55 UTC