Blue Sky Meats seeks 30 cents/share lift from Binxi after review shows earnings upside

Tue, 24 Jan 2017

By Jonathan Underhill Jan. 24 (BusinessDesk) - Blue Sky Meats' directors say they want China-based Heilongjiang Binxi Cattle Industry Co to lift its takeover offer by 30 cents a share before they'll recommend it to investors after a strategic review that showed potential to drive profit growth. The board told shareholders at a meeting last Friday that it recommended they wait for the outcome of negotiations with Binxi, which may conclude this month, well before the offer expires on Feb. 18. NZ Binxi (Oamaru) Foods, a subsidiary of the...

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