Dutch family-owned SHV offers $3.4 billion buyout of Nutreco
SEAFOODNEWS.COM [Reuters] by Quentin Webb - October 20, 2014
A $3.4 billion buyout of Nutreco highlights the value in the food chain. A wealthy Dutch family is planning to gobble up the Amsterdam-listed animal and fish-feed specialist.
With no financial overlap, this looks like a long-term bet on the world’s growing hunger for protein.
Through SHV, the Fentener van Vlissingen clan is offering 40 euros a share for Nutreco, or 2.69 billion euros in total. That’s a reasonable 34 percent premium to the average closing price over the last three months. It equates to an enterprise value of about 9.6 times first-half EBITDA, Nutreco says, slightly above the roughly 9.3 times achieved in two other recent deals.
Nutreco’s weakness...
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