NEW ZEALAND/USA: SK Foods raises offer for Cedenco Foods
US produce company SK Foods International has increased its takeover offer for New Zealand vegetable processor Cedenco Foods. California-based SK Foods increased the offer from NZ$2.15 (US$1.24) per share to $2.30 per share. Shareholders Murray McPhail and Ian Urquhart, who together own 15% of Cedenco, have agreed to sell to SK Foods at the higher price. SK Foods has therefore increased its stake in Cedenco to 81%, reported the New Zealand Herald.
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