Wednesday, 10 April 2013

China Fishery raises takeover offer for Copeinca to match rival's bid

China Fishery Group on Thursday said it will up its offer price for Norwegian-listed Copeinca from 53.85 Norwegian krone to 59.7 krone, in order to match rival Cermaq ASA's competing bid of the same value.
China Fishery has also decided to extend the acceptance period of the voluntary cash offer to expire on May 10, 2013 at 21:00 (Central European time). It expects to settle the cash offer in early June this year.
The group's revised offer price extends also to the 11.7 million Copeinca shares newly issued to Cermaq.
China Fishery said it has received pre-acceptances and entered into call-option agreements for a total of 16.9 million Copeinca shares, or 24.1 per cent of Copeinca post-share-issuance to Cermaq.

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