French food giant Danone is not planning to launch a hostile takeover bid for Yakult Honsha Co., although it wants to increase its already sizeable stake in the lactic drink maker, a top Danone executive said.
John Davison, president of Danone’s dairy products division, told a news conference Thursday in Tatebayashi, Gunma Prefecture, that a hostile takeover is not how the conglomerate operates.
Danone currently owns a roughly 20 percent stake in Yakult and has been involved in drawn-out talks with the firm over increasing its shareholding. Yakult, seeking to maintain its independence, has been resistant to the proposal.
Last November, Yakult extended the deadline for concluding the negotiations, which may be prolonged even further. Davison stressed that Danone respects Yakult’s management, and noted the beverage maker is doing well under a different business model from Danone’s.
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