Thursday, February 24, 2011

No buyer for Tassal after Pacific Equity Partners offer is rejected

Shares in Tassal Group slumped today after Australia's biggest salmon farmer failed to find a buyer, following its rejection of a higher offer from private equity group Pacific Equity Partners.
Tassal last December appointed advisory firm Gresham to assist with its strategic review, after receiving an expression of interest from PEP for a potential offer of AU$1.80 - AU$1.90 a share, or up to AU$278 million.

Despite receiving an updated proposal from an unnamed party, to potentially acquire a controlling interest in Tassal at AU$1.90 per share cash, the Tasmanian firm today stayed its course that the price “significantly undervalues” the company. PEP is understood to have made the updated offer. Read more ...

This blog is written by Martin Little The Aquaculturists, published and supported by the International Aquafeed Magazine from Perendale Publishers.

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