October 4, 2014

 

Marine Harvest drops bid for Cermaq

 

 
 
 

Norwegian fish-farming giant Marine Harvest will not bid for Cermaq after Mitsubishi Corp. offered $1.4 billion for the firm, chairman Ole-Eirik Leroey said today.

 

Japan's Mitsubishi Corp. made a $1.4 billion agreed bid for Norwegian fish farmer Cermaq at a 14% premium to the current share price.

 

Cermaq's board and the Norwegian state, Cermaq's biggest shareholder, agreed to the deal but said they wanted to give other investors the time to consider a competing offer.

 

Marine Harvest made a failed hostile offer last year but Cermaq has since sold EWOS, its coveted feed unit.

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