Bounty Fresh launches Tegel takeover with minimum target already achieved

Mon, 28 May 2018

By Rebecca Howard May 29 (BusinessDesk) - Philippines-based poultry group Bounty Fresh Foods has sent the offer document for its $437.8 million takeover bid for NZX-listed Tegel Group to all shareholders and said the minimum acceptance condition will be satisfied. The $1.23 per share offer opened today and will close Aug. 25, the document shows. Tegal shares gained 4.5 percent to $1.17, having fallen 4.3 percent so far this year. The offer is conditional - among other things - on Bounty holding more than 50 percent of Tegel's voting r...

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