MTY Food Group Confirms Rejection of Foodtastic's Offer to Acquire Company

04:04 PM EST, 11/03/2026 (MT Newswires) -- MTY Food Group (MTY.TO), up 13% on last look, on Tuesday said that it had rejected Foodtastic's offer to buy the company at CA$43 per share. MTY said Foodtastic's proposals were "non-binding and conditional" and that its board determined that accepting it was not in the best interest of its shareholders. The company, which recently completed a strategic review, said it had offered Foodtastic "multiple" extensions of its exclusivity period during the strategic review, to secure its financing and close the transaction. Foodtastic released a statement on Tuesday saying MTY had rejected its offer twice last month, and refused to engage with it. MTY shares were last seen up CA$4.10 at CA$36.35 on the Toronto Stock Exchange. Price: 36.35, Change: +4.10, Percent Change: +12.71