November 27, 2019 / 7:00 AM / 11 days ago

Bellamy's Australia settles two class actions for about $34 million ahead of takeover

FILE PHOTO: A person holds a tin of Bellamy's organic toddler milk formula in Sydney. REUTERS/David Gray

(Reuters) - Bellamy’s Australia Ltd (BAL.AX) said on Wednesday it settled two shareholder class action lawsuits, without admitting liability, and will pay A$49.7 million (26.29 million pounds).

Bellamy’s is on the verge of being taken over by Hong Kong-listed China Mengniu Dairy Co (2319.HK) in a A$1.43 billion deal.

Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Shri Navaratnam

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