June 21, 2011
Nutreco prepares takeover bid for Provimi
Dutch animal nutrition and fish feed company Nutreco is preparing a takeover bid for Provimi.
Provimi is currently owned by British private equity group Permira and newspaper Het Financieele Dagblad reported market observers said the takeover bid must be at least EUR1.4 billion (US$2 billion).
The newspaper added that JP Morgan, which is soliciting bids for Provimi, considers Nutreco the desired buyer but has not ruled out other bidders if its offer is not high enough.
Nutreco previously looked at buying Provimi in 2002 and 2007, but was outbid by private equity funds and the newspaper quoted a source saying that Nutreco cannot miss out this time.