Tassal group possible takeover bid

Salmon farmer Tassal Group Ltd  is being looked at by a private equity firm Pacific Equity Partners Pty Ltd (PEP) for a possible takeover bid valued at between AU$ 263 million  and AU$ 278 million. PEP said in a statement on Tuesday that it had made an expression of interest to the board of Tassal with a view to a possible acquisition of the aquaculture firm via a scheme of arrangement.

A Tassal spokesman told AAP on Tuesday that the company would not comment on the matter until it made a statement to the Australian stock exchange, which it would do as soon as possible. PEP said Tassal's chairman Allan McCallum had rebuffed the approach."At this stage, the chairman of the board has rejected PEP's approach and refused to grant due diligence access. Read more...

This blog is written by Martin Little The Aquaculturists, published and supported by the International Aquafeed Magazine from Perendale Publishers.