Auric now has 76.41% stake in Food Junction

Auric Pacific owned, controlled or had agreed to acquire some 93.2 million shares in Food Junction by 5 pm last Friday.

This amounts to a 76.41 per cent stake in Food Junction.

Auric, the food manufacturer that makes Sunshine bread, launched a takeover offer for Food Junction in June at 25.5 cents apiece in cash.

It already had a 61.42 per cent stake in Food Junction at the time.

Auric has said if its stake climbs to over 90 per cent it would exercise its right to make a compulsory acquisition of the remaining shares and then delist Food Junction.

The takeover offer closes on Wednesday, Aug 14.