ADF Foods zooms on inking deal for US firm buy
ADF Foods has zoomed nearly 15% to a high of Rs 92 on entering an MoU for acquiring US-based Elena's Food Specialities.
According to reports, ADF will acquire all significant assets and certain liabilities of Elena's for an agreed consideration. However, the deal size has not been disclosed.
The stock is currently trading 10% higher at Rs 88, and around 554,200 shares have changed hands at the counter on the BSE.