Cargill opts for sole pursuit of Nutreco
Cargill have recently stated that they will be pursuing the bid alone for the Dutch company Nutreco and have pledged not to break up the business to try and capture the initiative from rival bidder SHV.
According to Reuters, Cargill had not placed a concrete offer as yet and any offer would have to match SHV's €3.1 billion bid. Cargill originally said it would make a joint €43.20 bid with private equity house Permira, afterwards splitting Nutreco's animal and fish feed divisions into two separate companies. However last week Cargill changed its mind, saying that it still wanted to buy the business but that it would bid alone and not break up the company.
A Cargill spokesman confirmed this with AllAboutFeed saying "Cargill communicated to Nutreco, that it remains interested in pursuing the acquisition of Nutreco and is looking into the potential of making an offer. After extensive study, we decided to continue on a stand-alone basis, and consider an offer for the whole of Nutreco. We believe we would be very good stewards of the Nutreco business in the interest of all stakeholders."
As the stand is at the moment, the bidding war continues.
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