Export to Excel Concatenation Problem

Hi

I have set up a data connection from a Sharepoint list using export to excel and this tab is refreshed upon file open.  One some fields within sharepoint - multiple lines of text, when data connection refreshed, if the data spans multiple lines, it concatenates them in the excel cell and all formatting is lost (bullets example from text).

The list is used to write a highlight report in sharepoint, then I use vba to build the report in excel.  However with the formatting lost it looks awful.

Is there anyway for the data connection to maintain the formatting when the refresh happens?

Thanks

Sean