October 7: Australian fruit and vegetable canner Golden Circle could be bought by Heinz for A$288m ($220m), if Golden Circle’s shareholders agree next month.
The Heinz offer is supported by Golden Circle’s board and its major shareholder, Anchorage Capital Partners – but requires backing from a minimum of 75 percent of the fruit canner’s shareholders. They will vote on the offer worth A$1.65 a share on November 13.
“The Heinz proposal represents a compelling value proposition and is in the best interests of Golden Circle shareholders,” said Phillip Cave, chairman of Golden Circle, based in Queensland.
