2020-01-22 04:35:381970-01-01 00:00:00

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Bellamy’s to Be Removed from the ASX 200 Index

Bellamy's (BAL) shareholders have approved the proposed $1.5 billion acquisition...

Bellamy's to Be Removed from the ASX 200 Index    Bellamy's (BAL) shareholders have approved the proposed $1.5 billion acquisition of Bellamy's by a wholly owned subsidiary of China Mengniu Dairy Company Limited (Mengniu). Thursday, 5 December 2019, Bellamy's shareholders voted 99.23 per cent in favour of the offer. As a result, Dow Jones Indices announced that it will remove Bellamy's Australia Limited from the S&P/ASX 200. S&P Dow Jones will remove Bellamy's Australia Limited from the S&P/ASX 200 effective at the open of trading on December 11, 2019. EML Payments Limited (EML) will replace Bellamy's Australia Limited in the S&P/ASX 200 effective at the open on December 11, 2019. Bellamy's chief executive Andrew Cohen who will remain CEO under Mengniu's ownership said its new owner, Chinese dairy group Mengniu, has a very long-term vision for the infant formula company. Mr Cohen said, "The result was as we would have expected, which is in the national interest." Mr Cohen also stated that there were a lot of winners under the takeover deal. "I think it's a great result for shareholders, I think it's a great result for Mengniu, and I think it's

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