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Shares in French food group Danone rise on bid speculation report

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Shares in French food group Danone rise on bid speculation report

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PARIS (Reuters) – Shares in French food group Danone <DANO.PA> rose on Monday after the New York Post newspaper said in a report over the weekend that Danone could be a takeover target. (http://nyp.st/2vxjSjj) Danone’s shares were up 2.3 percent at 66.43 euros by 0704 GMT, making them the top performer on France’s CAC-40 market index <0#.FCHI>. The New York Post cited a stock market tipster as saying “someone is going to buy Danone”, with the tipster adding that “Danone could be bought by a Kraft <KHC.O> or a Coke <KO.N>, and the French government would allow it.” A spokeswoman for Danone said the company had no comment to make on the report. French governments have traditionally sought to prevent their leading companies from being taken over by foreign rivals. In 2005 France dashed to the support of Danone in the face of a rumoured bid from Pepsi <PEP.N>, which never actually materialized. (http://reut.rs/2wHZQTw)

(Reporting by Sudip Kar-Gupta and Matthieu Protard; Editing by Greg Mahlich)
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