Switzerland's Aryzta rebuffs takeover approach from Elliott
November 24, 2020
Bakery business Aryzta has rejected a takeover bid from Elliott Advisors that would have valued it at about 794 million Swiss francs (around €734.8 million). The investor offered 0.80 Swiss francs per share for the company. In a statement, Aryzta said that the offer was subject to conditions "which cannot be satisfied as a matter of fact."