Menu
Menu
CSR rejects Bright Foods' takeover offer

CSR rejects Bright Foods' takeover offer

CSR Limited (ASX:CSR) will go ahead with plans to spin off its sugar and renewable energy business, snubbing a takeover offer from China’s Bright Foods.

In a note to investors, CSR said it had considered the offer, but that its “preferred option continues to be to progress the demerger proposal,” as the board feels that choice is in the best interest of shareholders.

This week, Bright Foods made news of its offer public ahead of any announcement by CSR, in an apparent attempt to force CSR to act.

Bright Foods had reportedly offered to pay up to $1.5 billion for the units.

CSR shares have dipped 0.25% today, and are currently trading at $1.97.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags CSRMergers and acquisitionsdemerger

Show Comments