Written by Bloomberg
Tuesday, 24 August 2010 10:06
Olam International, a Singapore-based commodity producer, raised its takeover offer 27% after NZ Farming Systems Uruguaysaid the first bid was too low. Shares rose 13%.
Olam increased its bid to 70 New Zealand cents a share from 55 cents, valuing NZ Farming at NZ$171 million ($164.2 million), according to a filing with the New Zealand stock exchange. The new offer beats a 60 cents-a-share bid plan announced last week by Union Agriculture Corp., a Uruguayan landowner.
No comments:
Post a Comment