LT Foods Global Green acquisition rejected by Hungary, deal withdrawn
LTFOODS · price
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On the reaction day the stock moved 2.5 pts more than Nifty Smallcap 250 and 3.3 pts more than its Other Agricultural Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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LT Foods' proposed acquisition of the Global Green Group, comprising Global Green Europe Kft., Greenhouse AGRAR Kft., and Global Green International (UK) Limited, has been rejected by Hungary's Ministry of National Economy citing national economic and sectoral risks. The transaction stands withdrawn and will not proceed.
Deal falling through removes a planned European expansion opportunity for LT Foods. Near-term sentiment may be negative, but capital is preserved.