19 October 2007 – Scandza AS has made a USD 99.3 million offer for Norwegian dairy group Synnove Finden ASA, the latter announced in a statement to the Oslo Stock Exchange.
The announcement sparked an 18% jump in Oslo-listed Synnove’s shares. It is unlikely that the bid will be accepted by Synnove’s shareholders as the offer price is too low, the company said in their statement.
Synnove Finden is based in Oslo, Norway, and employs 400 staff. Its three main plants produce cheese, butter and margarine.