New Zealand meat processor PPCS has said it is to make another attempt to acquire the remaining shares in meat processor Richmond that it does not already own.
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Last year, after a long-running battle, PPCS finally regained a majority stake in Richmond and now holds a 62.9% stake in its former rival.
The latest offer from PPCS is valued at NZ$3.11 (US$1.94) per share and is conditional on PPCS receiving enough acceptances to reach the 90% shareholding level that would trigger a compulsory acquisition of the remaining Richmond shares, reported Dow Jones News.
