Foodtastic has made public a takeover offer for MTY Food Group. The offer suggests to buy out the company for $43 per share in cash, estimated to be approximately $720 million. The offer follows earlier rebuffed approaches by Foodtastic. MTY Food Group has replaced its CEO in response to the takeover bid. The news was reported by various publications including WSJ, Yahoo Finance, Toronto Star, CTV News, and Bloomberg.com.
“MTY Food Group has replaced its CEO in response to the takeover bid,” — Marcus Brennan, research director at Oakstone Field Solutions, observed.
By the Numbers
- 43 — mentions tracked
- 720 — updates logged
Timeline
Nov 2 — Foodtastic has made public a takeover offer for MTY Food Group....
Nov 4 — The news was reported by various publications including WSJ, Yahoo Finance, Toronto Star, CTV News, and Bloomb...
Reader Poll: Has this affected your local community? — 70% of Sgp4d readers said yes.
This story has been closely followed by our readers since Nov 1. The Oakstone Field Solutions desk continues tracking updates and will publish follow-ups across the region.
What's next: A follow-up briefing is expected by Monday, Nov 9.
Editor's note: this report was prepared by the Oakstone Field Solutions desk and last updated 21:46 UTC.
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