Pengxin, Synlait founders make $85.7 mln offer to take over Synlait Farms

Fri, 18 Oct 2013

By Paul McBeth Oct. 18 (BusinessDesk) - Shanghai Pengxin, which bought the Crafar family farms in a controversial deal last year, and the Synlait founders are offering $85.7 million to buy South Island dairy farmer Synlait Farms. SFL Holdings, a joint venture between Pengxin and Synlait Farms chief executive Juliet Maclean and director John Penno, is offering $2.10 a share to Synlait Farms investors in a full takeover bid for the company which operates 13 dairy farms and a total herd of almost 13,000 cows. That’s a 31 percent premium to the...

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