Paris-based Danone formalized its takeover offer for Royal Numico N.V., a Dutch company specialized in producing baby food and clinical nutrition.

Danone offered to pay 55 euros per share, which totals 12.3 billion euros for the entire package. The initial bid was approved by the Numico board on July 9, the workers union also supporting the deal.

On Monday, Numico’s shares rose with 0.92 per cent and stabilized at 53.74 euro during the morning trading hours. The French company’s shares gained only 0.44 per cent, remaining at 53.90 euro in the same period.

If completed, the transaction will give Danone a boost on the healthy food market and will anchor its position at the top of food-producing companies. The French company claims to be the world’s top producer of dairy products and bottled water, owning the renown brand of mineral water Evian.

In order for the deal to become official, two-thirds of Numico shares have to be registered, shareholders having until October 31 to register them.

Both companies also announced in a joint statement that Numico’s third quarter results will not be published “given the expected timetable.”

Danone currently holds 29.54 per cent of Numico’s shares acquired after the initial bid was made. Also, Danone intents to end Numico's participation at the Amsterdam stock exchange after the takeover is complete.