October 19, 2018 / 8:29 AM / in a month

South African dairy firm Clover says in takeover talks, shares jump

JOHANNESBURG, Oct 19 (Reuters) - South Africa’s Clover Industries said on Friday it has entered into talks with an unnamed party that intends to acquire the entire issued share capital of the dairy company, sending its shares up nearly 12 percent.

Clover, which processes products including yoghurt, beverages, cheese and olive oil, did not provide further details. In September, the firm reported normalised annual profit tripling, boosted by its exit from the milk business and a recovery from drought the previous year.

Reporting by Tanisha Heiberg Editing by James Macharia

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