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, the world's third-largest dairy company, 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 said on Monday, after the court decision, it remained confident about developments. "Lactalis will continue to stick to its long-term industrial plan in the interests of Parmalat, its employees and stakeholders," the French group said in a statement.
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