Nutreco possibly taken over, says bank
According to a internationally operating Dutch bank, Dutch livestock feed
manufacturer Nutreco could be taken over by the British investment company
Market analysts at ABN Amro Bank made their predictions in a report on
Nutreco. The Dutch company is likely to lose a battle for the take over of
another Dutch animal nutrition company, Provimi, to Permira.
contracts between both Dutch companies, it would be likely for the British to
also take over Nutreco.
The British investment company is said to be
about to take a 74% share in Provimi, the analysts
Nutreco has had a lot of
money in stock, due to selling its activities in salmon industry. Still the
bank's analysts do not think the company can beat an investment company, which is
able to use more aggressive financing methods.
In addition, Nutreco's
shareholders are expected to resist should the company show a willingness to pay
too much for Provimi, the bank thinks. More than 50% of the shareholders has to
agree to purchasing Provimi.
However, a merger of Nutreco and Provimi
would be very healthy for Nutreco, the bank writes.
On the Amsterdam stock exhange, the news made Nutreco's
shares rise 2.8% on Tuesday.
Nutreco is the holding company of
Hendrix UTD, Trouw Nutrition, Grupo Sada and Selko. Also Euribrid, sold to
Hendrix Genetics today, has been part of Nutreco.
â€¢ Euribrid acquired by Hendrix Genetics
(24 Jan 2007)
Related web sites:
â€¢ ABN Amro
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