ASX-listed Freedom Foods has sold $31 million of A2 Milk [NZX: ATM] shares, reducing its stake from 17.8% to 10.4%.
The sale took place on market at a price of 73c a share.
Freedom was involved in a potential takeover bid for A2 in June, alongside US liquid milk company Dean Foods, but A2’s board rejected the approach as “not compelling” and it was formally ended on September 1.
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