February 22, 2019 / 7:34 AM / 9 months ago

Canada's Saputo to buy Dairy Crest for about $1.27 bln

Feb 22 (Reuters) - Saputo Inc, one of Canada’s largest dairies agreed to buy Britain’s largest dairy food company Dairy Crest Group Plc for about 975 million pounds ($1.27 billion), the companies said on Friday.

The deal price of 620 pence in cash for each Dairy Crest share by Saputo’s unit Saputo Dairy UK represents a premium of about 11.7 percent to the London-listed company’s close of 555 pence on Thursday. ($1 = 0.7665 pounds) (Reporting by Pushkala Aripaka and Arathy Nair in Bengaluru; Editing by Bernard Orr)

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