On April 2, 2019, GTN Foods passed a resolution turning down the public offer made by Vietnam Dairy Products Joint Stock Company. The Company stated that the transaction would have increased Vietnam Dairy Product’s stake in the Company from 2.32 percent to 49 percent. In addition, the Company stated that Vietnam Dairy Products had only registered its public offer but had not written to the Company about the plan, direction or strategy to contribute to the development of the Company and Vietnam Dairy has not given the Company sufficient grounds to agree to the public offer.