Israel’s Delek Group said it had offered $524 million for the 80 percent of shares in Canadian oil producer Ithaca Energy Inc it does not already own in an agreed takeover bid.
North Sea producer Ithaca said its board had recommended the Israeli conglomerate’s cash offer of C$1.95 per share.
The offer, which represents a premium of about 12 percent to Ithaca’s closing price of C$1.74 on Friday, implies an enterprise value of about $1.24 billion, Ithaca said.
Delek, with natural gas exploration and production activities in the eastern Mediterranean, already owns 19.7 percent of Ithaca. The bid values the entire company at $646 million.
By Noor Zainab Hussain and Tova Cohen
Source: Reuters
Collaborating with Packamama, Aldi has rolled out the “UK’s first” supermarket own-brand flat wine bottles within its Chapter & Verse label. The recyclable ergonomic packaging concept is made from 100% recycled PET (rPET) and available for shiraz and chardonnay options.
For the fifth year in a row, global consumers expressed a preference for snacking over traditional meals, with six in 10 consumers saying they’d rather eat several small meals throughout the day than a few large ones, according to the fifth annual State of Snacking report from Mondelēz International. Nearly nine in 10 (88%) consumers snack daily.
The shareholders are urging Nestlé to set a target to boost the proportion of its sales from healthier products amid concerns regarding regulatory, reputational and legal risks faced by the company, as well as the public health implications “associated with an over-reliance on less healthy foods”.