Omega Protein receives acquisition bid

- Last updated on GMT

Related tags: Stock market, Stock, Omega protein

The largest US maker of fish oils Omega Protein said today it had
received a letter containing an acquisition proposal from Ferrari
Investments of Comodoro Rivadava, Argentina, and an unidentified US
partner.

The largest US maker of fish oils Omega Protein said today it had received a letter containing a proposal for acquisition of the company by Ferrari Investments of Comodoro Rivadava, Argentina, and an unidentified US partner.

The offer is for all the outstanding shares of Omega Protein at $9.50 per share in cash, said the company, although Omega said it had no information regarding the credibility of the letter's information. The letter also claims that Ferrari Investments is a recent 4 per cent shareholder in Omega.

Omega Protein​ said it has requested extra information from the purported purchaser before it assesses the proposal, including financial statements and source of cash for the transaction, as well as compliance with the Department of Homeland Security's requirements on US citizenship for ownership of fishing vessels in US waters, and banking references.

The company asked stockholders to defer decisions on the offer until they have been advised of its position on the proposal.

Last year Zapata Corporation, the holding company which controls 61 per cent of Omega Protein, said it was exploring new ways to enhance the value of its shareholding in the marine protein producer.

Related topics: Suppliers

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