News blog
Landkom International
- BY: Andrew Hore |
- POSTED: 22/12/2011 |
Ukraine-focused agricultural company Landkom International has rejected an indicative offer of 2.3p a share in cash from Jersey-based JadenFinch Ltd.
At 2.88p a share, up 0.25p, Landkom is valued at £12.5m. Alpcot Agro’s agreed all-share offer of one Alpcot share for every 22.16 Landkom shares, valued Landkom at £11.4m when it was announced.
Landkom argues that the Alpcot Agro’s bid is superior in terms of price, consideration and certainty of completion. Alpcot Agro has successfully raised $20m from a placing.
The JadenFinch offer was subject to due diligence and it is still interested in making an offer. JadenFinch (www.finchinvest.com) has cash available from the sale of its agricultural interests in Ukraine.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFDecember2011_27.pdf
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