Subscribe free to our newsletters via your
. Space Travel News .




FARM NEWS
Australian food group rejects Singapore-Hong Kong bid
by Staff Writers
Sydney (AFP) April 28, 2014


Australian food manufacturer Goodman Fielder on Monday turned down a joint Singapore and Hong Kong takeover bid valuing the company at Aus$1.27 billion (US$1.18 billion), saying it was too low.

The company, which owns food brands including Helga's, MeadowLea and Wonder White, was targeted by Singapore-based agribusiness Wilmar International and Hong Kong-based investment manager First Pacific Company.

The consortium conditionally offered 65 cents a share, but Goodman Fielder management rejected the "opportunistic" bid on the grounds that it undervalued the company, whose shares closed 15 percent higher at 63 cents.

"The board believes that the current proposal materially undervalues Goodman Fielder and is opportunistic," said the firm, which makes some of Australia's most recognisable food and bakery products.

"The board has advised Wilmar and First Pacific accordingly."

Struggling Goodman Fielder recently announced it was bringing forward plans for 300 job cuts to achieve Aus$25 million in cost reductions in response to a weaker-than-expected financial performance.

First Pacific and Wilmar, which already holds a 10.1 percent stake in Goodman Fielder, urged the board to allow them to inspect the company's financial records.

"First Pacific and Wilmar ... will continue to seek engagement with the board about entering into due diligence aimed at bringing forward a binding proposal to Goodman Fielder shareholders," the two companies said in a joint statement after the initial rejection of their bid.

.


Related Links
Farming Today - Suppliers and Technology






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








FARM NEWS
Top 12 ways the world can eliminate agriculture's climate footprint
San Francisco CA (SPX) Apr 28, 2014
Annual carbon emissions from global agriculture can be reduced by as much as 50 to 90 percent by 2030-the equivalent of removing all the cars in the world-according to a comprehensive new report released by Climate Focus and California Environmental Associates. The study highlights twelve key strategies-led by reduced global beef consumption, reduced food waste and better farm nutrient managemen ... read more


FARM NEWS
SpaceX sues US Air Force over satellite contracts

Vega for third Arianespace mission, carrying Earth observation spacecraft

Launcher build-up begins for Arianespace's fifth Ariane 5 mission to orbit an ATV

45th Space Wing supports third SpaceX Launch for ISS Resupply mission

FARM NEWS
Mission to Mars

Opportunity Rover Driving Up To Crater Rim

NASA Rover Opportunity's Selfie Shows Clean Machine

NASA's Human Path to Mars

FARM NEWS
John C. Houbolt, Unsung Hero of the Apollo Program, Dies at Age 95

NASA Completes LADEE Mission with Planned Impact on Moon's Surface

Russia plans to get a foothold in the Moon

Russian Federal Space Agency is elaborating Moon exploration program

FARM NEWS
Dwarf planet 'Biden' identified in an unlikely region of our solar system

Planet X myth debunked

WISE Finds Thousands Of New Stars But No Planet X

New Horizons Reaches the Final 4 AU

FARM NEWS
An Earth-sized planet that might hold liquid water

Solved: Mysteries of a Nearby Planetary System's Dynamics

Astronomers discover Earth-sized planet in habitable zone

Exoplanets Soon to Gleam in the Eye of NESSI

FARM NEWS
ATK Announces Contract Award from ULA to Build Composite Launch Vehicle Structures

Russia to Test Launch New Angara Rocket June 25

ATK supplying hardware, composites for Evolved Expendable Launch Vehicle

NASA Gears Up for Next Set of Engine Tests for Space Launch System

FARM NEWS
China issues first assessment on space activities

China launches experimental satellite

Tiangong's New Mission

"Space Odyssey": China's aspiration in future space exploration

FARM NEWS
Curiosity spots asteroids from the surface of Mars

Construction to Begin on NASA Spacecraft Set to Visit Asteroid in 2018

Dawn draws ever closer to dwarf planet Ceres

Cosmic collision creates mini-planet with rings




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.