Chart Update, page-19563

But travel restrictions have limited the former, and China’s hostility to Australia the latter, and the possibility of “corporate activity” is one of the few potential upsides for A2 shareholders on the horizon, according to Ms Moore.As A2’s woes have deepened, market chatter has grown that big overseas food giants such as Nestle and Mead Johnson are sniffing the wind on a potential move on the dairy producer.Both have introduced their own range of infant formula using the A2 strain of milk popularised by the New Zealand and Australian product pioneer in recent years, but have struggled to challenge A2’s position in the market.Ironically, Nestle could have acquired A2 for a lot cheaper than its current market cap of $5bn. In the early 2000s, A2 founder Corran McLachlan travelled to Switzerland with co-founder Bob Elliott in an effort to convince Nestle executives of the validity of the science and see if they could strike a commercial arrangement. But they came back empty-handed.A2 was also a takeover target for Freedom Foods and an unnamed international dairy company in 2015, when it was capitalised at only $325m.