Satara-EastPack merger back on after two-year hiatus

Mon, 04 Feb 2013

Feb. 4 (BusinessDesk) - Kiwifruit growers Satara Cooperative Group and EastPack are set to resume merger plans shelved after the outbreak of the Psa vine bacteria two years ago. The deal will see Satara grower shareholders receive one EastPack share for each dollar paid-up of the transactor or investor share, and receive a 5 cent fully imputed special dividend, valuing the deal at 65 cents. That's a 63 percent premium to Satara’s current trading price. Non-grower shareholders will be paid out 60 cents per share, a 50 percent premium, with t...

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