Mowi to Launch Competing Bid for NTS With $1.5 Billion Offer
January 24 2022 - 3:55AM
Dow Jones News
By Dominic Chopping
Norwegian seafood company Mowi ASA on Monday said it intends to
launch a 13.8 billion Norwegian kroner ($1.5 billion) bid for
aquaculture group NTS ASA, topping a bid made by NTS shareholders
last week.
Mowi's NOK110-a-share bid would comprise 50% cash and 50% in
shares issued in Mowi, above the NOK105-a-share bid launched by a
company owned by shareholders in NTS that represents more than 50%
of the shares in NTS.
"Mowi has followed the NTS Group for several years and is
impressed by how the employees, management team and owners have
developed the NTS Group into one of the leading producers of
Atlantic salmon in Norway and Iceland," Mowi said.
NTS also holds development licenses in Arctic Offshore Farming
and the aqua service company Froy ASA, Mowi said.
The offer won't be subject to any conditions relating to the
obtaining of any antitrust approvals, Mowi said.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
January 24, 2022 03:40 ET (08:40 GMT)
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