Ukraine-focused agricultural company Landkom International has rejected an increased offer from Jersey-based JadenFinch Ltd.
The indicative cash offer was increased from 2.3p a share to 3p a share. The share price fell 0.25p to 2.88p, valuing Landkom at £12.5m. Due diligence would be required.
Landkom is sticking with its recommendation of the Alpcot Agro bid. Alpcot’s agreed all-share offer of one Alpcot share for every 22.16 Landkom shares, valued Landkom at £11.4m (2.63p a share) when it was announced. Since then, the Alpcot share price has risen from SEK6.25 to SEK7.5. That values the bid at 3.15p a share.
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