WhiteWave Foods Co. shareholders on Tuesday approved the merger agreement that will allow Danone to purchase the Denver-based company for $10.4 billion.
Danone S.A., based in Paris, is the parent company of Dannon, known nationally for its yogurt and dairy products, and Evian water.
"We believe that WhiteWave’s mission to change the way the world eats for the better dovetails nicely with Danone’s mission to bring health through food to as many people as possible," said Gregg Engles, chairman and CEO of WhiteWave. "Danone is the ideal strategic partner to support our future and we remain excited about the opportunities this combination will create for WhiteWave’s employees, customers, vendors and partners."
Under the deal, WhiteWave (NYSE: WWAV) will receive $56.25 in cash for each share once the merger is completed. The deal, first announced in July, had faced scrutiny by organic watchdog groups like the Conucopia Institute, which argued that the proposed tie-up would be harmful to the dairy market.
Read more at the Denver Business Journal: http://bizj.us/1ohznc
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