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Company News

BUZZ-Saputo: Rises on $1.27 bln deal to buy Dairy Crest

** Canadian dairy products maker’s shares up 4.5 pct at C$43.53, hit a more than 7-month high at C$43.88

** Co enters British market with deal to buy food company Dairy Crest Group Plc for 975 mln pounds ($1.27 bln)

** Saputo’s offer price represents a premium of ~11.7 pct to Dairy Crest’s close of 555 pence on Thursday

** Dairy Crest’s Cathedral City and Davidstow cheese brands and Country Life butter to add to Saputo’s existing cheese business, which include Armstrong Cheese and Cheese Heads

** Including today’s gains, stock up ~11 pct this year (Reporting by Shanti S Nair in Bengaluru)

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