Kellogg and Abraaj Investment Management have tabled new offers for Egyptian snack firm Bisco Misr, with the US group again outbidding the private-equity firm.

The cereal giant has reportedly improved its offer for Bisco Misr to EGP86.36 a share, up from its previous EGP82.2-a-share bid. The group’s revised offer is yet to be confirmed by the Egyptian securities regulator. 

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The move comes just one day after Abraaj increased its own bid from EGP80.58 to EGP84.66 a share. 

Abraaj and Kellogg have been battling it out to take control of Bisco Misr since last month.

Click here for our profile for Bisco Misr.

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