Yesterday afternoon we discussed the +12% rally in A2M courtesy of a story in the Australian Newspaper suggesting Swiss goliath Nestlé was interested in taking over the dairy and baby formula business. The NZ based stock has certainly seen better days having plunged 75% in just 14-months but the combination of a substantial short position, uncertainty around its result looming next week and now these M&A rumours could easily put a rocket under the share price over the coming sessions – MM has a 5% holding in A2M at present, it might be tempting to trim this back to 3% if we see a test of $8 on rumours into next Thursdays result.
MM is bullish A2M initially targeting a test of $8
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