AUSTRALIA: Sam's Seafood withdraws takeover offer for Global Seafood
Brisbane-based Sam's Seafood has announced that its has withdrawn its takeover offer for Global Seafood Australia after the latter revealed a A$5.5m (US$3.55m) write-down last week. Global Seafood said it would write down to zero the company's goodwill and brand assets for the fiscal year. This, together with the company's June profit warning of a $1.4m loss for the year, related to the SARS outbreak, points to an expected loss of $7m for the year, reported the Australian Associated Press.
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