Aryzta is best known for its Cuisine de France brand in IrelandA SECOND Aryzta shareholder has called on the board to reject a takeover bid for the company from US hedge fund Elliott. In a letter to the board of directors seen by the Irish Independent, Lodbrok said that the Elliott offer “grossly undervalues a re-focused and deleveraged Aryzta”. Shares in Aryzta have fluctuated over the past week following reports US hedge fund Elliott was considering a bid for the company. Lodbrok said an Elliott offer would create “significant uncertainty for our customers, suppliers and employees”. In addition to rejecting the bid from Elliott, Lodbrok said the non-binding offer was “distracting the company”.

Source: Irish Independent November 27, 2020 14:24 UTC