Dutch animal feed group prepares takeover bid for French rival

Nutreco bid must be at least €1.4 billion to satisfy Provimi owners

Dutch animal feed group Nutreco is preparing a takeover bid for France-based competitor Provimi, according to reports.

Nutreco is considered the desired buyer, but the bid must be at least €1.4 billion (US$1.98 billion) to satisfy the company’s owners, according to market observers. Nutreco also looked into buying Provimi in 2002 and 2007, but was outbid by private equity funds both times.