Shan Foods issues ambiguous clarification on acquisition rumors

MG News | October 28, 2019 at 03:15 PM GMT+05:00

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October 28, 2019 (MLN): Amidst ongoing rumors and speculations regarding a prospective acquisition of Shan Foods by Unilever Foods Pakistan, the former has issued an official statement giving a rather ambiguous clarification on the same.

‘Speculative news has been circulating on social media channels claiming that a multinational company is in the process of acquiring and / or has acquired Shan Foods” the statement by Shan Foods read.

“If and when such a situation develops, we will be the first to communicate the news to our respective stakeholders” it added.

While the company did manage to clear the air to a certain extent, it still seems that the statement lacks clarity as the company has neither accepted nor denied the above mentioned deal.

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