Take it or leave it: Wilmar sweetens offer for Goodman Fielder to A$1.37b

But that's the last spike in offer.

Vowed to win the approval of Goodman Fielder, Wilmar International Limited (WIL), together with 50-50 JV partner First Pacific CompanyLimited (FPCL), has improved its offer to acquire the entire issued share capital of the firm; this up to A$0.70/share after having its initial offer of A$0.65 rejected by Goodman’s board as being too low and “materially undervalues” the company.

Here's more:

However, the board of Goodman has just announced that it will “unanimously” recommend shareholders to vote in favour of the improved offer, which will cost the WIL-FPCL JV some A$1.37b (as opposed to A$1.3b previously).

Separately, with the new offer being some 33% over Goodman’s A$0.525 closing price on 23 Apr, the JV also said it would not be increasing the offer further in the absence of a competing proposal. In view of the latest development, Goodman will provide the JV with non-exclusive access to due diligence of the company over a short and focused period of approximately four weeks.

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