Reports shares in Kerry Group fell by 12% yesterday before rebounding

Shares in Kerry Group fell nearly 12% yesterday, before rebounding.

RTÉ is reporting the drop came about following a report from short-seller Ontake Research, which criticised the firm's record on acquisitions.

Ontake Research, which has a short position on the Tralee-headquartered business, said it found eight businesses purchased for €1bn that it said are worth nowhere near that.

A spokesperson for Kerry said to RTÉ that "the report is full of errors inaccuracies and incorrect deductions".