Danone agreed to buy WhiteWave Foods Co. (NYSE: WWAV) for about $10 billion to add the best-selling U.S. soy milk brand Silk and expand in organic food in its biggest acquisition in almost a decade.
Investors will receive $56.25 a share in cash, Danone said in a statement Thursday. That’s 19 percent higher than WhiteWave’s closing price Wednesday. WhiteWave began trading in 2012 after U.S. dairy company Dean Foods Co. spun off the unit, which was its most profitable business. Danone shares rose as much as 5.8 percent in early Paris trading.