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Lactalis to Bid for Parmalat in 3.4 Billion-Euro Offer

Groupe Lactalis, France’s biggest cheesemaker, offered to pay 3.38 billion euros ($4.9 billion) in an unsolicited bid for the 71 percent of Parmalat SpA it doesn’t own to create the world’s largest dairy company.

Lactalis will offer 2.60 euros per share, a 12.5 percent premium to the April 21 closing price, according to a stock-exchange statement today. Shares of Parmalat, Italy’s biggest dairy company, jumped as much as 12 percent to the offer price in Milan.