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Article: Ridley suggests rejecting offer.(Business)(Ridley Corp. acquiring Ridley Inc.)
- Article from:
- Feedstuffs
- Article date:
- May 26, 2008
- Author:
CopyrightCOPYRIGHT 2008 Miller Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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RIDLEY Corp. Ltd.'s board of directors is recommending that its shareholders reject the takeover offer announced May 16 by Australia-based GrainCorp Ltd., saying the offer "fails to deliver a meaningful control premium to Ridley shareholders and exposes them to considerable uncertainty about the future value of GrainCorp shares."
Ridley Inc., based in Mankato, Minn., and Winnipeg, Man., is one of North America's leading commercial animal nutrition companies. Ridley Inc. manufactures and/or distributes a full range of animal nutrition products.
Ridley Corp. Ltd. controls 69% of Ridley Inc.; and earlier this month initiated a strategic review process to ...