Milan prosecutors have included banks Intesa Sanpaolo, Lazard and the Italian unit of France's Societe Generale in their probe into French dairy group Lactalis's bid for Parmalat, two sources involved in the probe said on Thursday. Tax police are investigating possible market-rigging and insider trading linked to Lactalis's takeover of Parmalat (PLT.MI), Italy's biggest dairy group. Lactalis, Europe's largest dairy company, acquired 29 percent of Parmalat in March and offered 3.4 billion euros ($4.75 billion) for the rest of the company last month in its bid to create the world's largest dairy group. Intesa Sanpaolo (ISP.MI), Lazard (LAZ.N) and Societe Generale (SOGN.PA) have been placed under investigation for possibly failing to prevent potentially illegal conduct by employees, said the sources, speaking on condition of anonymity.
Lazard Limited (Lazard) is a financial advisory and asset management Company. Shares of LAZ remained unchanged at $39.52. In the past year, the shares have traded as low as $25.70 and as high as $46.54. On average, 721337 shares of LAZ exchange hands on a given day and today's volume is recorded at 0.
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