Deals
Union Agriculture Plans NZ Farming Bid; to Beat Olam
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Union Agriculture Group, a closely held Uruguayan landowner, plans to outbid Olam International Ltd. for NZ Farming Systems Uruguay Ltd. to gain control of the South American dairy farmer.
Union Agriculture will make an offer of 60 New Zealand cents a share, valuing NZ Farming at NZ$147 million ($103 million), Christchurch-based NZ Farming said in a statement posted on the exchange. The shares rose 8.6 percent.