In today’s briefing:
- Thai Union (TU TB): Mitsubishi Corp (8058 JP)’s Partial Tender
Thai Union (TU TB): Mitsubishi Corp (8058 JP)’s Partial Tender
- Mitsubishi Corp (8058 JP), currently holding 6.19% in Thai Union Group (TU TB), a global seafood leader, is seeking to lift its stake to 20% via a Partial Offer.
- Mitsubishi is offering THB12.50/share for 532.27mn shares in Thai Union, or 13.81% of shares out (excluding treasuries), an outlay of ~US$200mn. If <13.81% tender, the Offer lapses.
- Last month Mitsubishi expanded its salmon farming by acquiring additional businesses in Norway and Canada for ~US$1bn.
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