AUSTRALIA: Sam's Seafood defends offer after Global rejection
Brisbane-based Sam's Seafood has stood by its A$2.3m (US$1.5m) takeover offer for Global Seafood Australia, after the latter had dismissed the offer as "grossly inadequate". Sam's Seafood said its offer of 12.5 cents a share, pitched on Friday as a conditional off-market cash bid, was "fair and reasonable", reported the Australian Associated Press.
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