Olam seeks to buy NZ Farming Systems Uruguay

Olam International is seeking to buy the 22% of shares in NZ Farming Systems Uruguay (NZFSU) that it does not already own.

Singapore-based Olam has a 78% 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

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Infratil releases Climate Related Disclosures
The Warehouse Group Appoints Chief Digital & Transformation
The Financial Collapse Has Already Begun - Will You Be Caught Off Guard?
NWF - IMPLEMENTATION OF SCHEME OF ARRANGEMENT
EROAD Publishes FY25 Group Climate Statement
Synlait provides performance update
Air New Zealand Chief Executive Officer Appointment
July 30th Morning Report
IKE 1Q FY26 Performance Update
July 29th Morning Report