A takeover for Tegel
A takeover for Tegel
24 September 2018
Philippines-based poultry group Bounty Fresh Foods has received approval from the Overseas Investment Office to acquire Tegel Group Holdings.
Bounty has made a 437.8 million dollar takeover bid.
In March, Tegel announced its net profit would be in a range of 25-to-27 million, down from 31.7 million last year.
One of the takeover's conditions, is that Tegel cannot issue guidance or warning that net profit will be more than 10 per cent lower than its announcement.
Tegel is trading at 1.17 dollars.
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