New Zealand

Philippine poultry producer wants to buy NZ Tegel

Mergers & Acquisitions

Bounty Fresh Chicken, a leading poultry producer from the Philippines, is interested in acquiring New-Zealand-based Tegel Group in a takeover bid worth $437.8 million at a 50% premium to the share price, as reported by New Zealand Herald.

Posted on Apr 27 ,13:34

Philippine poultry producer wants to buy NZ Tegel

Bounty Fresh is targeting a full takeover but the company will also accept a 50% stake. In addition, the company must obtain the approval for the takeover from the Overseas Investment Office and for the deal to go through Tegel must meet certain earnings thresholds.

Tegel announced in a statement to the New Zealand Stock Exchange that it had appointed Goldman Sachs to advise on this takeover bid.

Tegel can pay a dividend of up to 4.1c a share that would not affect the offer price, as stipulated by the terms of the notice.

 NEWSLETTER - Stay informed with the latest news!

Comments





Similar articles

SPAIN

INTERPORC regrets the decision of the CHS to block the development of farms in Murcia

This measure, in his opinion, does not at all reflect the important advances that the Spanish liv...


Read more Read more
DENMARK

New Danish Crown board in place

Soren Skou was elected chairman, and Daniel O. Pedersen and Ulrik Bremholm were elected to the tw...


Read more Read more
NEW ZEALAND

B+LNZ South Island lamb crop update

Lambs tailed in the South Island decreased by an estimated 645,000 head (-6.4%) compared to 2023,...


Read more Read more
Websolutions by Angular Software and SpiderClass