Indofood Agri Resources gets 28 cents per share offer to delist

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SINGAPORE (April 11): PT Indofood Sukses Makmur Tbk, the controlling shareholder of Indofood Agri Resources, wants to take the vertically-integrated agribusiness group private and delist from the Singapore Exchange.

PT Indofood Sukses Makmur has made a 28 cents per share cash offer to Indofood Agri shareholders to acquire all the shares it does not own. Based on the some 1.4 billion shares issued, the offer values target Indofood Agri at S$391 million.

The offer price also represents a premium of 21.5%, 26.3%, 29.0% and 23.1% over the volume-weighted average price (VWAP) per share for the one-month, three-month, six-month and 12-month periods up to and including April 5, being the last market day on which...(click on link for full story on