Final offer for Nutreco shares by SHV almost ready

The final offer (‘offer memorandum’) from investment company SHV will be in accordance with market practice and regulatory requirements, and will amongst others include detailed information on the process and the Boards’ decision-making leading to the offer and their financial assessment of the offer and its strategic rationale.

Addressing questions
Furthermore, it contains the fairness opinions issued to the Nutreco Boards by its financial advisors, transaction structure, governance and minority protection as well as the arrangements, including non-financial arrangements, between Nutreco and SHV. This information will address questions from shareholders and other stakeholders that Nutreco has received to date. Previously, shareholders of Nutreco were not happy about the SHV bid. Several major shareholders, such as NN Group, said the offer per share was too low.

Late October, SHV said it is willing to purchase all the shares from Nutreco for 2.7 billion euro. On 10 November 2014, Nutreco and SHV jointly announced that SHV had agreed to increase its offer price per ordinary share from €40 (cum dividend) in cash to €44.50 (cum dividend) in cash for all issued and outstanding ordinary shares in the capital of Nutreco. This was partly due to interest from Cargill to buy Nutreco as well.

Nutreco has understood from Cargill that they are evaluating the situation. Nutreco has not received further information since its public announcement on 10 November 2014.