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Golden Circle welcomes bid from Heinz
7 Oct 2008
Fruit and Vegetable grower shareholders of Queensland based fruit and juice cannery Golden Circle will vote in December on a bid for the company by US food giant HJ Heinz, unless an alternative bid emerges before then. The HJ Heinz bid values the company at $288 million, *or* $1.65 per share, a 313 per cent premium on the last share trade for Golden Circle which was at 40 cents per share. Golden Circle''s CEO and Chairman both backed the HJ Heinz bid yesterday, saying the proposal was in the best interests of shareholders. Heinz said it was buying the cannery for the brand and says the business will fit into its "health and wellness" business strategy.
Herald Sun, 07/10/2008
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