Tassal Group, the Australian salmon and shrimp producer, has rejected today, Tuesday, the takeover offer made yesterday by the Canadian Cooke to acquire 100% of its shares. The non-binding indicative proposal offered A$4.85 per share, an offer that the Canadians described as an “attractive premium”. The Tasmanians, for their part, have described it as “incomplete and conditional”. This is the third time in just over a month that Tassal has rejected a Cooke proposal.
Australian salmon and shrimp producer Tassal Group rejects Cooke’s takeover offer
The rejection has triggered a sharp rise in the stock market value of Tassal shares.