NewsHK
The Spanish olive oil market, a global benchmark for prices and production alongside Italy and Greece, is moving through a consolidation phase that investors priced in fast on Wednesday.
Deoleo, the maker of Bertolli and Carbonell, climbed more than 20% after Spanish agri-food cooperative Dcoop emerged as the frontrunner in a competitive takeover process, having tabled a €470 million ($545 million) bid.
That move pushed Deoleo to its highest share price in a year and its strongest single-day gain since March 2022.
No agreement has been reached, but the process is nearing its conclusion, with a deal anticipated to close as early as September, according to CNBC, which cited Spanish newspaper El Economista.
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