Sector News

Nutreco Agrees Sweetened Takeover Offer to Fend Off Cargill

November 10, 2014
Consumer Packaged Goods
SHV Holdings NV has agreed to sweeten its offer for Nutreco NV by 11% to €2.99 billion ($3.73 billion) in cash to ward off a potential rival bid by Cargill Inc. which had also approached the Dutch animal-feed maker.
 
SHV, a privately-held group controlled by the Fentener van Vlissingen family in the Netherlands, is now offering €44.50 cash per share from €40 a share previously.
 
The improved offer comes as Nutreco said it had been approached by Cargill, the U.S. agribusiness group working with private-equity firm Permira, which together had presented an indicative offer of €43.20 per share in cash. Nutreco make the comment in a joint-statement with SHV.
 
“Nutreco, together with its advisers, have concluded that Cargill’s intention of breaking up the Nutreco business is fundamentally inconsistent with Nutreco’s long-term growth strategy for the business as a whole,” Nutreco said Monday.
 
Nutreco and SHV in October had reached agreement about the original offer, which valued the Amsterdam-listed company at €2.7 billion.
 
By Robin van Daalen 
 

comments closed

Related News

January 19, 2025

Hershey prepares for new leadership as CEO Michele Buck announces retirement plans

Consumer Packaged Goods

The Hershey Company has formally announced a leadership succession plan as Michele Buck, the current chairman, president and CEO, prepares to retire on June 30 2026. Buck, who has been with the company for two decades, will remain in her roles until a successor is appointed, after which she will transition to a senior advisor position.

January 19, 2025

Kraft Heinz appoints Marta Pilczuk as managing director for UK and Ireland

Consumer Packaged Goods

The Kraft Heinz Company has officially appointed Marta Pilczuk as the managing director for its UK and Ireland operations, effective from January 1 2025. Pilczuk, who has over 16 years of experience in the fast-moving consumer goods (FMCG) sector, steps into this role following a successful tenure as managing director of Kraft Heinz Poland.

January 19, 2025

US bans Red Dye 3 in foods, beverages and ingested drugs

Consumer Packaged Goods

The US Food and Drug Administration (FDA) has banned the use of the synthetic colourant Red Dye 3 in food, beverages and ingested drugs. The decision, announced on 15 January 2025, follows two studies that linked the dye to cancer in male laboratory rats.

How can we help you?

We're easy to reach