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Pioneer proposes offer to KWV board
The proposed consideration amounts to R12 per KWV ordinary share, which amounts to a total consideration of R827.7 million.
The proposed consideration is subject to a number of conditions precedent, which KWV and Pioneer will communicate once the firm expression of interest becomes a firm intention offer, the companies said in a joint statement.
The proposed deal represents a premium of 10.93% to the volume weighted average traded price of KWV Holdings shares, for the 30 days preceding 13 October 2010, the date of the first cautionary announcement published by KWV.
Source: I-Net Bridge
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