By Phil Boeyen, ShareChat Business News Editor
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Friday 3rd May 2002 |
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The offer of $1.20 per share was due to close on Monday May 6 but GPG is extending it until Friday May 24.
At the time of making the offer GPG held a 19.99% stake in the company and says it now has 83.26% of issued shares.
"GPG has a long term strategic vision for Enza which includes better returns for growers through business efficiencies," the company says in a letter to Enza shareholders.
"We believe that this offer is fair and reasonable and the independent directors of Enza have made a recommendation to shareholders to accept the offer."
GPG says that because the offer has been made during the busy picking season it may have been difficult for some growers to consider the offer.
"By extending the offer period it will give those growers who have not accepted, and other shareholders, the opportunity to now do so should they wish."
A Ferrier Hodgson report into the offer put a value of between $1.17 and $1.53 on Enza's shares.
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