Comvita lifts cash component of $12.3 mln NZ Honey purchase

Thu, 12 Jun 2014

June 13 (BusinessDesk) - Comvita, which makes health-care products and supplements based on honey, has lifted the cash component of its takeover offer for New Zealand Honey, the Timaru-based honey produce owned by the New Zealand Honey Producers Cooperative that operates the Hollands Honey, 3 Bees and Sweet Meadow brands. The purchase price will now comprise $10.3 million in cash and $2 million Comvita shares issued at $3.50 apiece, Comvita said in a statement. The deal had originally been for $7.3 million of cash and $5 million of shares. T...

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