Olam seeks to buy out NZ Farming Systems Uruguay
Olam International is seeking to buy the 22 percent of shares in NZ Farming Systems Uruguay (NZFSU) that it does not already own.
Olam International is seeking to buy the 22 percent of shares in NZ Farming Systems Uruguay (NZFSU) that it does not already own.
Singapore-based Olam has a 78 percent stake after a takeover offer that closed last September. It is offering 70c a share for the rest of the stock, compared to a closing price of 55c on Thursday.
NZFSU today said its independent directors recommended shareholders wait for a target company statement, including an independent appraisal on the merits of the offer, before making a decision.
Under the Takeovers Code, Olam was expected to send to shareholders the offer in the next two weeks, and NZFSU would then issue the target company statement.
NZPA
Tue, 26 Apr 2011
Tue, 26 Apr 2011
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Olam seeks to buy out NZ Farming Systems Uruguay
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