Goodman Fielder: First Pacific and Wilmar plan takeover

Singapore / SG. (wi) First Pacific Company Limited (Hong Kong) and Wilmar International Limited (Singapore) announced this week that they have submitted a non-binding all-cash offer for the joint acquisition of all of the shares in Goodman Fielder Limited (Australia) via a scheme of arrangement at 0,65 AUD per share, valuing the shares at 1,27 billion AUD. This is a compelling all-cash offer for Goodman Fielder shareholders, delivering a premium of 27 percent above the Volume Weighted Average Price of Goodman Fielder shares since the company´s 02 April 2014 profit downgrade announcement and compares favourably with recent relevant comparable transactions. First Pacific and Wilmar are leading operators and investors in the global food industry with a long track record of investing in Australia and New Zealand and a combined market capitalisation of over 23,7 billion AUD. Wilmar is currently a significant investor in Goodman Fielder, holding a 10,1 percent stake in the company. First Pacific and Wilmar noted the immediate announcement by the Goodman Fielder Board – to reject the takeover bid – and will continue to seek engagement with the Board about entering into due diligence aimed at bringing forward a binding proposal to Goodman Fielder shareholders.

bakenet:eu
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