Danone rises 3% amid fresh talk of PepsiCo bid

French government relaxes stance on foreign takeovers

Shares of Danone, the French food group, rose nearly 3% today after finance minister Thierry Breton appeared to soothe concerns that France would protect companies from foreign takeovers. The rally also came amid fresh speculation that PepsiCo was preparing a takeover bid.

Yesterday, Breton said France would only protect defence and security assets from foreign takeovers and leave others to fend for themselves.

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