China Mengniu plans to buy infant formula maker Bellamy’s for $983 million

FILE PHOTO: Cartons of Mengniu's milk products (R) are placed at a supermarket in Beijing February 13, 2014. REUTERS/Kim Kyung-Hoon

(Reuters) – China Mengniu Dairy Co <2319.HK> unveiled a plan to buy infant formula maker Bellamy’s Australia Ltd <BAL.AX> for A$1.43 billion ($983 million), a lifeline for a target beset by regulatory problems that sent its shares soaring. Bellamy’s shares soared as much as 56% to the highest in more than a year after the […]

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