15 October 1999
Dairies play down merger rumours
By FWi Staff
DAIRY Crest has played down rumours that a sudden rise in its share price was due to a proposed merger with Express Dairies.
Dairy Crest shares fell 5p on Friday (15 October) after rising 4.5p to 285p on Thursday. Express shares dropped 1p to 113p after having risen 0.5p to 114p.
Industry insiders had speculated on the possibility of a merger with dairy giant, Express Dairies. But both companies played down the rumours.
“We dont speculate on changes in the stock market,” said a Dairy Crest spokesman, who declined to comment on the prospect of any merger.
A spokeswoman from Express also denied the rumour: “Its nothing to do with us. Theres absolutely no truth in it,” she said.