Albano said Amber would start a campaign with proxy adviser Georgeson to explain to other investors why the offer undervalued Parmalat.
«The offer comes after a terrible year in which Parmalat was hit by the crisis in Venezuela … and exchange rates, with the exception of the U.S. dollar,» he said.
Albano noted Parmalat had invested one billion euros in the past three years in countries such as Brazil, Mexico and Australia.
«It is yet to reap the fruits of such investments, as the company’s chairman in person pointed out when we complained at April’s shareholder meeting,» he said.
Source: Reuters
Link: http://www.reuters.com/article/parmalat-buyout-amber-idUSI6N1F200V