Bellamy’s Australia Limited (ASX: BAL) has reported that the Foreign Investment Review Board (FIRB) has provided notice to China Mengniu Dairy Company Limited, wherein, it has informed that Commonwealth has no objection to the proposed acquisition of Bellamy's by a wholly-owned subsidiary of Mengniu via a scheme of arrangement.
- BAL’s Board continues to recommend its shareholders to vote in favour of the scheme.
- Transaction is subject to customary conditions, including shareholder approval, court approval, among others.
By 1:09 PM AEST, BAL was trading at $13.2, up by 1.9% relative to the previous close.
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