Sovereign Food Gets 686 Million Rand Approach From Country Bird

July 7, 2016

Sovereign Food Investments received a 686 million rand ($46.5 million) all-cash takeover offer from Country Bird Holdings, the closely held South African agricultural company that’s built a minority stake.

Country Bird offered 9 rand a share, the company said in a statement after the market closed on Wednesday. That compares with Uitenhage, South Africa-based Sovereign’s share price of 7.19 rand. Source: Bloomberg