World's largest olive oil firm Deoleo surges 17% as Dcoop leads takeover battle

Published Aug 19, 08:14 AM UTC

Shares of Spain's Deoleo, the world's largest olive oil bottler and marketer, jumped over 17% on Wednesday amid an intensifying takeover battle. Reports indicate that Spanish agri-food cooperative group Dcoop has offered 470 million euros ($545 million) for Deoleo, taking the lead in a contest that also involves Italian, French, and Australian firms. Deoleo has not yet commented on the bid. The stock move reflects heightened investor interest as rival suitors circle the company.