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- Salmon farming company Tassal Group (TGR) confirms it received another proposal from Cooke to buy 100 per cent of its shares
- Consideration of $4.85 per share has been offered, representing a step up from previous proposals for $4.67 and $4.80 per share
- Following a review of this latest proposal, the company decides it will not proceed any further with the Cooke acquisition
- The TGR Board says it will continue to deliver on its strategic objectives
- Shares in the company last traded at $3.97 each on June 27
Tassal Group (TGR) confirmed it received a non-binding, indicative, incomplete, and conditional proposal from Cooke to acquire 100 per cent of its shares by a scheme of arrangement.
Consideration of $4.85 per share was offered, representing a step up from previous proposals for $4.67 and $4.80 per share.
However, following a review of this latest proposal, the company said it also “does not reflect the fundamental value of its business”.
As such, it has decided not to engage with Cooke on the proposal and shareholders do not need to take any action.
The TGR Board said the company is positioned for further growth and it will continue to deliver on its strategic objectives.
Shares in the company last traded at $3.97 each on June 27.
