Robert Wiseman has admitted it is in takeover talks with the German yogurt group Theo Müller after its shares jumped 8 per cent in early trade yesterday.
Shares in Wiseman eventuially closed up 34 per cent at 328p yesterday, valuing the company at £232m. In November, it reported falling profits as rises in the cost of raw milk ate into its margins. The Scottish dairy company, which provides 30 per cent of Britain's milk, started off selling milk from a farm in 1940s. Its founding family still holds more than 30 per cent of the shares.