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Cargill to bid alone on Nutreco, says it won’t break up business

Cargill said on December 11 that it would bid alone for Dutch animal feed company Nutreco.

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From WATTAgNet:

Cargill said on December 11 that it would bid alone for Dutch animal feed company Nutreco. It also said that, contrary to a previous offer, it would not break up the business to compete with rival bidder SHV Holdings.

SHV offered to buy Nutreco in October and sweetened its bid in November.

Nutreco said Cargill has not made a formal offer and that any bid would have to match the terms of SHV’s EUR3.1 billion (US$3.8 billion) offer.

"We have not received a concrete, written proposal that is likely to qualify or evolve to a competing offer," Nutreco said. "There is no doubt that it is clear to Cargill what will constitute a potential competing offer."

Cargill said it has asked Nutreco to allow it to pursue due diligence on a potential offer.

“We believe we would be very good stewards of the Nutreco business in the interest of all stakeholders,” a Cargill spokesman said.

Cargill originally had said it would make a joint bid with private equity firm Permira and then split Nutreco’s animal and fish feed divisions into separate companies.

At the time, Nutreco said that offer was “fundamentally inconsistent with Nutreco’s long-term growth strategy for the business as a whole.”

In SHV’s offer memorandum, it pledged to make no redundancies, not to break up the company, and keep its headquarters in the Netherlands.

UPDATE 1-Cargill says to go it alone on Nutreco deal

commodities company Cargill said on Thursday it would bid alone for Dutch animal feed company Nutreco and pledged not to break up the business to try to capture the initiative from rival bidder SHV. SHV’s offer of 44.50 euros a share values the company at 3.1 billion euros but the Dutch family …

Read more at Reuters

Cargill Still Interested in Dutch Supplier of Animal Feed

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Read more at The New York Times

Spurned once, Cargill may still bid for $4 billion feed supplier Nutreco

Cargill Inc. is considering a solo bid for animal-feed supplier Nutreco, a month after its joint bid for the Dutch company was turned down. Bloomberg reports that the Wayzata-based agribusiness giant says it "remains interested in pursuing the acquisition of Nutreco." It has asked to be given …

Read more at The Business Journals

Cargill Confirms It’s Keeping Up the Pursuit of Nutreco

Still determined to reel in Dutch animal feed maker Nutreco NV, Cargill Inc. 11, that it is considering a solo bid after having its joint offer with Permira batted away. "We have asked Nutreco to give us access to due diligence." Nutreco has already agreed to a €3 billion ($3.7 billion) offer from closely held Dutch investment firm SHV NV.

Read more at The Street

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