Shan Foods issues ambiguous clarification on acquisition rumors

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

0:00

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.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,404.49 326.40M	-0.32% -556.16
ALLSHR	103,442.24 795.99M	-0.21% -217.04
KSE30	52,413.79 113.03M	-0.27% -143.72
KMI30	244,645.84 109.10M	-0.15% -378.05
KMIALLSHR	67,050.27 450.39M	-0.02% -14.08
BKTi	47,413.54 37.21M	-0.37% -176.81
OGTi	33,419.75 8.88M	-0.20% -67.52

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	87,895.00	89,510.00 85,135.00	3075.00 3.63%
BRENT CRUDE	60.55	60.65 59.40	0.73 1.22%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	2.30 2.59%
ROTTERDAM COAL MONTHLY	96.90	96.90 96.90	0.50 0.52%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	56.54	56.72 55.61	0.54 0.96%
SUGAR #11 WORLD	14.85	14.87 14.45	0.37 2.56%