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SAN MIGUEL CONSIDERING POSITION AFTER FONTERRA HIKES BID.
SYDNEY, March 2 Asia Pulse - Philippines soft drink and beer giant San Miguel Corporation said today that it was considering its position after New Zealand dairy cooperative Fonterra upped its bid for Australian dairy company National Foods Ltd (ASX:NFD).
Fonterra, which has been doing due diligence on National Foods' accounts since February 2, lifted its bid by 10 cents to .00 ($US4.71) per share, although the offer will increase to .20 ($US4.87) if the New Zealand company acquires more than 90 per cent of National Foods.
Fonterra currently holds 19.02 per cent of National Foods.
"San Miguel has also noted Fonterra Foods Pty ...
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...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...
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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.
Source: HighBeam Research, SAN MIGUEL CONSIDERING POSITION AFTER FONTERRA HIKES BID.