Blue Sky Meats urges shareholders to wait for more information on Binxi takeover

Wed, 07 Dec 2016

By Tina Morrison Dec. 8 (BusinessDesk) - Blue Sky Meats has recommended shareholders wait for more information from the board on the future prospects of the meat processor before deciding on a takeover offer from China-based Heilongjiang Binxi Cattle Industry Co, which is at the top of an independent valuation range. NZ Binxi (Oamaru) Foods, a subsidiary of the Chinese company referred to as Binxi Cattle Group, is offering $2.20 per share for the 86.5 percent of Blue Sky that it doesn't already own. Independent adviser Campbell MacPherson...

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