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Olam bid for NZFSU unconditional

Fuseworks Media
Fuseworks Media

Wellington, Sept 20 NZPA - Singapore-based Olam International's takeover bid for New Zealand Farming Systems Uruguay (NZFSU) is unconditional, after Olam told the market it now has a 50.14 percent stake in the target company.

Olam, which is offering 70c for each NZFSU share, lifted its stake from 46.03 percent on Friday.

Shortly after the announcement that it had a controlling stake in NZFSU, Olam said that all the conditions to its takeover offer had either been satisfied or waived by l0am.

Accordingly, the offer was now unconditional.

The offer remained open until 5pm on Friday.

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