A2M +12.08%: Rallied strongly today on reports in The Australian newspaper that global food giant Nestle was interested in taking them over. We doubt a bid would be launched pre-FY21 results which are scheduled for the 26th August however where there is smoke, there is often fire. The news snippet was enough to get the shorts covering today, currently around 8.6% of the company is held short which is around 48m shares. Today, A2M traded around 21m shares which is more than twice what it normally trades.
MM is bullish A2M
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