Danone Eyes Quaker after Coke Pulls Out

23 November 2000

In the wake of Coca-Cola’s decision to pull out of a $15 billion takeover of Quaker Oats [WAMN: 22-Nov-00], French food and drink group Danone yesterday declared a renewed interest in buying the sports drink and breakfast cereals manufacturer.

The group, owner of the Evian water brand, informed analysts that it was ready to make an all-share bid for Quaker.

However, the deal could be threatened by Danone’s investors, as the company’s stock dropped 10% yesterday following fears over new share issues.

News source: Financial Times