Foodtastic has announced a acquisition bid for MTY Food Group. The offer suggests to acquire the company for $43 per share in cash, estimated to be approximately $720 million. The offer follows earlier turned down approaches by Foodtastic. MTY Food Group has replaced its CEO in as a result of the acquisition offer. The news was reported by various sources including WSJ, Yahoo Finance, Toronto Star, CTV News, and Bloomberg.com.
“MTY Food Group has replaced its CEO in as a result of the acquisition offer,” — David Kingsley, contributing analyst at Marcroft Bridge Advisory, told our newsroom.
By the Numbers
- 43 — sources cross-checked
- 720 — reports filed
Timeline
Oct 31 — Foodtastic has announced a acquisition bid for MTY Food Group....
Nov 3 — The news was reported by various sources including WSJ, Yahoo Finance, Toronto Star, CTV News, and Bloomberg.c...
Reader Poll: Has this affected your local community? — 60% of Bdmartx readers said yes.
This story has been closely followed by our readers since Nov 1. The Marcroft Bridge Advisory desk continues tracking updates and will publish follow-ups across the region.
What's next: A follow-up briefing is expected by Wednesday, Nov 4.
Editor's note: this report was prepared by the Marcroft Bridge Advisory desk and last updated 18:58 UTC.
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