Dairy group Parmalat (PLT.MI) said it won the backing of an Italian court for its moves to block rival Lactalis of France from taking it over. The court in the north Italian city of Parma said Parmalat's decision to postpone its annual shareholder meeting until the end of June was in line with an Italian government decree giving domestic investors time to formulate a bid for the food group, Parmalat said on Monday in statement. Lactalis has bought a 29 percent stake in its Parma-based rival, which has a 4 billion euros ($5.76 billion) market capitalisation. It wanted the shareholder meeting to appoint its slate of directors to implement its business plan for Parmalat. Lactalis, the world's third-largest dairy company, owns Italy's well-known Galbani cheese brand. The court ruling supports Italian government efforts to keep Parmalat in Italian hands. State holding Cassa Depositi e Prestiti (CDP) holds a shareholder meeting on Monday to clear it to invest in companies of national interest.
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