Brazil's JBS offers 4.5% premium for majority stake in Scott Technology

Thu, 20 Aug 2015

By Paul McBeth Aug. 20 (BusinessDesk) - Brazilian meat processor JBS is offering a 4.5 percent premium to buy a controlling stake in industrial automation manufacturer Scott Technology as part a capital raising to cut the Dunedin-based company's debt levels. JBS Australia, an existing Scott customer, has put forward an offer to merge with Scott via a scheme of arrangement, which requires 75 percent shareholder approval, where it would buy 10 million shares at $1.39 apiece and offer to pay existing investors the same price. That would be f...

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