Major shareholder Marcus Blackmore says he’s “sort of relieved” as he sells his 18 per cent stake into a $1.9 billion bid by Japanese giant Kirin after a rocky two years. Blackmores shares surged 22 per cent.
Japanese giant Kirin has made a $95 per share takeover bid for vitamins group Blackmores, whose board has recommended the offer to shareholders in the absence of a higher bid.
Japanese beverages giant Kirin Corporation has made a $1.9 billion takeover bid for Australia’s largest vitamins group Blackmores, which has been endorsed by the board and its major shareholder,The Kirin bid is at $95 per share and at a 23.7 per cent premium to the last closing price of $76.79. The bid is being made via a scheme of arrangement. Blackmores shares jumped 22 per cent in early trading on the ASX to $93.65.
He is also glad it won’t be owned by one of the private equity groups which had made regular buyout overtures over the past couple of years. His stake is worth $334 million.“I got fairly comfortable with them. They’re ethical, they’re strong on culture,” Mr Blackmore said. “Private equity, they would have slashed and gone around sacking people”.
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