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Goodman Fielder accepts reduced Wilmar, First Pacific offer

Published on Jul 2, 2014 9:12 AM

WELLINGTON (Reuters) - Australasian food company Goodman Fielder said on Wednesday that it would recommend shareholders accept a reduced takeover offer.

It said it had a deed of implementation that would see Singapore-based Wilmar International and Hong Kong investor First Pacific Co offer A$0.675 a share, valuing the company at A$1.32 billion (S$1.56 billion).

"In reaching our conclusion to unanimously recommend that shareholders vote in favour of the scheme, the board concluded that the proposal represented an attractive value outcome for shareholders," chairman Steve Gregg said in a statement.

Goodman Fielder said it would also pay a final dividend of one Australian cent a share.

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