Dean Foods, the US dairy processing giant that recently made a play for The a2 Milk Company, is in the spotlight following the sudden departure of its chairman.
The company's chairman Tom C. Davis, resigned suddenly, effective immediately, late last week during an investigation by the US regulator involving trading activity in Dean Foods shares.
In June, a2 Milk received a joint expression of interest in acquiring all of its shares from Dean Foods and Freedom Foods, however a2 Milk later rejected the offer, saying it was not compelling and would not be recommended to its shareholders.
The expression of interest followed the recent launch of a2 Milk into Californian supermarkets.
