(Reuters) - South African investment firm Remgro said on Tuesday a subsidiary had bought 7.775 million shares at 16 rand a share in takeover target Rainbow Chicken.
Before the purchase, Remgro owned 62 percent of poultry producer Rainbow and had made an initial offer of 16 rand in cash or nine of its shares for every 100 Rainbow shares held by investors to acquire the remaining 38 percent.
Read more at Reuters Africa
Before the purchase, Remgro owned 62 percent of poultry producer Rainbow and had made an initial offer of 16 rand in cash or nine of its shares for every 100 Rainbow shares held by investors to acquire the remaining 38 percent.
Read more at Reuters Africa
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