Tassal recommends shareholders accept $1.1 billion takeover bid from Canadian seafood giant Cooke

The last remaining Australian-owned major salmon producer looks set to go to foreign hands, after Canadian aquaculture company Cooke upped its offer for Tassal. Tassal told the Australian Securities Exchange that it has recommended shareholders accept Cooke’s latest $5.23 per share bid, which values the company at $1.1 billion. Cooke has attempted to purchase Tassal for months, lodging three unsuccessful takeover bids, with the latest in June valued at $4.85 per share. The potential acquisition of Tassal follows foreign takeovers of Australia’s other two major salmon companies. New Zealand seafood giant Sealord purchased Petuna in 2020, while Brazilian-owned JBS completed its takeover of Huon Aquaculture last year. >click to read< 10:09

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