China’s Mengniu Dairy makes $1bn offer to acquire Bellamy’s

China’s Mengniu Dairy has made a bid to acquire Bellamy’s – Australia’s largest organic infant formula producer – for approximately AUS 1.5 billion ($1 billion).
 
Bellamy’s board of directors have unanimously approved the deal, which will see Mengniu acquire 100% of Bellamy’s shares, and urged shareholders to accept the offer.