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France: Impatient Fresenius backs away from Danone buyout

By  |  November 30, 2014

Fresenius is reportedly planning to back off from efforts to acquire the medical nutrition unit of France’s Danone because the process is taking too long, say reports.

According to unnamed sources, the German medical conglomerate is slated to abandon the bidding race for Danone, though one source said it was too early to definitely say that Fresenius has taken the decision to walk away. Another source told reporters that Danone had repeatedly missed deadlines in the companies’ merger discussions.

Reports say the Danone acquisition could be worth up to $6 billion.

Danone has been looking to divest its medical nutrition assets to fund its pursuit of top US infant formula maker Mead Johnson Nutrition, sources say.

Full content: Reuters

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