Aftermath Of Olam Acquisition: NGSE Delists Dangote Flour Mills
Shareholders of Dangote Flour Mills Plc, on Monday in Lagos, unanimously approved the acquisition of the company by Crown Flour Mills Limited, the Nigerian subsidiary of global food and agri-business conglomerate, Olam International Limited after paying N120bn to the shareholders (READ MORE). Olam International has made an offer for the acquisition of 100% equity in Dangote Flour Mills Plc for consideration of N24.00 per share through a Scheme of Arrangement (READ MORE). Following the acquisition, the entire 4,994,886,771 ordinary shares of DFM held by the scheme shareholders of the company will be transferred to Crown Flour, in exchange for N24 per share that will be given to the shareholders for each unit held. This represents a 124% premium on the share price of DFM as at the close of April 18, 2019, being the last business day prior to the date the proposal was received and announced on the Nigerian Stock Exchange (NSE); and a 145% premium on the three-month weighted average ...