World's largest olive oil company plummets 19% after rivals agree to takeover deal

Deoleo shares fell 19% in early trading after rivals agreed to a takeover deal for the world's largest olive oil company. The transaction would combine Deoleo with competitors, reshaping a sector already strained by volatile olive oil prices. Terms of the deal, including the offer price and ownership split, were not detailed in the initial announcement. The move matters because consolidation could shift pricing power in a market where supply has been tight. Investors will watch for a formal offer document and any competing bids, along with regulatory review of the combination.