Asian bidders to take control of Goodman Fielder

The Goodman Fielder [NZX: GFF] board agreed at the weekend to a higher bid from Singapore commodities trader Wilmar International and Hong Kong investment company First Pacific.

The offer of 71Ac a share – up from the original offer of 65Ac – was agreed late of Friday when the bidders set a conditional deadline for a unanimus board recommendation.

The proposed $A1.39 billion scheme of arrangement, which includes a 1Ac dividend, requires approval from the Australian Foreign Investment Review Board.

 

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