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FONTERRA LIFTS BID FOR AUSTRALIA'S NATIONAL FOODS.
SYDNEY, March 2 Asia Pulse - New Zealand dairy cooperative Fonterra said today it had lifted its bid for Australian dairy company National Foods Ltd (ASX:NFD).
Fonterra said it had lifted its bid to $A6.00 ($US4.71) per share, which will rise to $A6.20 ($US4.87) per share if it acquires more than 90 per cent of National Foods.
Fonterra is locked in a battle with Philippine food and beverage company San Miguel Corporation for control of the Australian company.
Fonterra said its offer compares to San Miguel's $A5.90 ($US4.63) per share, which was reduced after National Foods paid an interim dividend of 10 cents late last month.
At the same time, Fonterra said that Yoplait had agreed to continue to support National Foods under Fonterra ownership.
Fonterra said it would also waive all the conditions of its offer, other than the 50 per cent minimum acceptance condition.
"We now have a more informed view. The due diligence confirmed our assessment that National Foods presents a valuable strategic opportunity for Fonterra," Fonterra chief executive Andrew Ferrier said.
- Takeover.(San Miguel Corp. takes National Foods Ltd.)(Brief Article)
- Magazine article from: Grocer April 16, 2005 700+ words
San Miguel Corp, the Philippines' biggest...drink supplier, is to take over National Foods of Australia. Rival bidder Fonterra of New Zealand was unable to top San Miguel's $1.9bn. San Miguel welcomed Fonterra's decision...
- SAN MIGUEL MULLS GROUPING FOOD BIZ UNDER NATIONAL FOODS.
- News wire article from: AsiaPulse News January 6, 2006 700+ words
...conglomerate San Miguel Corp (SMC...subsidiary, National Foods Ltd. SMC...business. "San Miguel is currently...business under National Foods," Mr Ang...part of the San Miguel Group...acquisition of National Foods has made...
- SAN MIGUEL EXITING AUSTRALIA WITH SALE OF DAIRY AND BEER OPS.
- News wire article from: AsiaPulse News November 8, 2007 700+ words
...Philippines-based San Miguel Corp is exiting...products maker National Foods and the J...Australia. National Foods is being sold...debt, after San Miguel acquired it...shares in National Foods from San Miguel, Kirin will...
- SAN MIGUEL SELLS OFF AUSTRALIAN DAIRY AND BEER BUSINESSES.
- News wire article from: AsiaPulse News November 8, 2007 700+ words
...key stakeholder in San Miguel, said in a statement...the acquisition of National Foods by the end of calender...of all shares in National Foods from San Miguel, Kirin will obtain...said. "By adding National Foods' strong brands...
- JAPAN'S KIRIN AIMS TO EXPAND GLOBALLY THROUGH SAN MIGUEL DEAL.
- News wire article from: AsiaPulse News January 20, 2009 700+ words
...share of about 95 per cent. San Miguel Brewery logged sales of 44...94.25 per cent-owned by San Miguel. Dim prospects for the domestic...s largest milk processor, National Foods Ltd., from San Miguel in 2007, and acquired second...
- Philippines : San Miguel May Spend $2 Billion on Infrastructure.
- News wire article from: TendersInfo September 2, 2009 700+ words
...the end of the first quarter. San Miguel has sold assets worth more than...Monte Pacific Ltd., Australia s National Foods Ltd. and Coca-Cola Bottlers...which it held for two years. San Miguel is entertaining people who are...
- United States : San Miguel May Spend $2 Billion on Infrastructure Acquisitions.
- News wire article from: TendersInfo September 3, 2009 700+ words
...the end of the first quarter. San Miguel has sold assets worth more than...Monte Pacific Ltd., Australia s National Foods Ltd. and Coca-Cola Bottlers...which it held for two years. San Miguel is entertaining people who are...
- Japanese brewer Kirin Holdings Company, Limited plans to buy all shares in...
- Magazine article from: The Food Institute Report November 12, 2007 700+ words
Japanese brewer KIRIN HOLDINGS COMPANY, LIMITED plans to buy all shares in Australian dairy and fruit juice producer NATIONAL FOODS from SAN MIGUEL CORP. for A$2.8 billion.
