October 21, 2014

Nutreco accepts US$51/share offer by SHV 

Nutreco has accepted SHV's full public offer of US$51.20 (cum dividend) in cash per share issued.

The agreement also covers outstanding shares of Nutreco. The company's executive board and the supervisory board fully support the offer.

The offer price represents a premium of 42% to the closing price on October 17, 2014, and a premium of 34% to the average closing price for the three months prior to and including that date.

SHV is a privately owned company which will financially support Nutreco with investment needs for capital expenditures and acquisitions in accordance with Nutreco's long-term growth strategy.

The company has agreed to certain non-financial covenants, including supporting the execution of Nutreco's business strategy with the current management, such as anticipated capital expenditures, mergers and acquisitions; maintaining Nutreco's corporate identity, values and culture; and keeping Nutreco as a separate group with its headquarters, central management and key support functions in the Netherlands.