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Elliott Is Said to Bid $872 Million for Swiss Baker Aryzta

  • U.S. suitor proposes offer of about 0.80 Swiss francs/share
  • Investment firm has lined up financing for potential deal
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Photographer: Cole Burston/Bloomberg
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Billionaire Paul Singer’s Elliott Management Corp. has made a fresh takeover bid for ailing Swiss baking company Aryzta AG, people with knowledge of the matter said.

Elliott proposed an offer of about 0.80 Swiss francs per share in recent weeks and reiterated its interest in the past few days, the people said, asking not to be identified because the information is private. That price would represent a 32% premium to Thursday’s close and value Aryzta at about 794 million francs ($872 million), data compiled by Bloomberg show.