French group Lactalis's investment arm Sofil said Thursday that it was raising the offer price for its buyout of Italian food and diary company Parmalat to 3.00 euros per share from 2.80 euros. It also announced that it was extending the period to sign up for the offer until March 21. Kepler Chevreux analysts advised shareholders, some of whom had complained that the previous price was too low, to accept the new offer.
Lactalis gained control of Parmalat in 2011 and now wants to buy out the company completely.
Parmalat's share price rose 5.6% in early trading on Thursday.
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