Fonterra

This move comes after New Zealand-based Fonterra announced that it would explore full or partial divestment options for ‘some or all’ of its global consumer business.

The standard requires that dairy animals have a diet comprised of at least 90% (fresh weight) on a 3-year rolling average.

Fonterra’s full-year forecast earnings range has been narrowed to 65-75 cents per share, at the upper end of its previous guidance.

The interest from Lactalis emerged after Reuters reported that the business was among the companies considering bidding for the Fonterra assets.

The cooperative is looking to divest its well-known brands and operations as part of a strategic shift