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Nutreco Expects Renewed Takeover Offer in December

26 November 2014

NETHERLANDS - Dutch based animal, fish feed and poultry meat company Nutreco is expecting a cash offer for the company to be lodged in December.

Nutreco said that it expects the Offer Memorandum by SHV Holdings with regard to its intended cash offer for all Nutreco’s ordinary shares to be published early next month.

Nutreco is expected to issue its Position Statement at the same time.

The Offer Memorandum from SHV and the Position Statement from Nutreco will include detailed information on the process and the boards' decision-making leading to the offer, their financial assessment of the offer and its strategic rationale.

It also contains the fairness opinions issued to the Nutreco Boards by its financial advisors, transaction structure, governance and minority protection as well as the arrangements, including non-financial arrangements, between Nutreco and SHV. This information will address questions from shareholders and other stakeholders that Nutreco has received to date.

On 10 November, Nutreco and SHV jointly announced that SHV had agreed to increase its offer price per ordinary share from € 40 in cash to € 44.50 in cash for all issued and outstanding ordinary shares in the capital of Nutreco.

By agreeing the increased offer price with respect to the intended public offer, SHV responded to an expression of interest, which Nutreco had received from Cargill, on 8 November.

Nutreco said it has understood from Cargill that they are evaluating the situation. Nutreco has not received further information since its public announcement on 10 November.

Nurtreco said that the boards will continue to act in accordance with their fiduciary duties taking into account the interests of its shareholders and all other stakeholders.

This publication follows earlier public announcements of Nutreco and SHV on 20 October and 10 November.

Nutreco said it will issue additional statements if and when appropriate.

ThePigSite News Desk



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